Forma Therapeutics Holdings Inc. [FMTX] Stock trading around $36.55 per share: What’s Next?

Forma Therapeutics Holdings Inc. [NASDAQ: FMTX] loss -7.70% on the last trading session, reaching $36.55 price per share at the time. The company report on December 16, 2020 that Forma Therapeutics Announces Closing of Public Offering and Exercise in Full of the Underwriters’ Option to Purchase Additional Shares.

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Forma Therapeutics Holdings, Inc. (Nasdaq: FMTX), a clinical-stage biopharmaceutical company focused on rare hematologic diseases and cancers, announced the closing of an underwritten public offering of 6,095,000 shares of its common stock, including the exercise in full by the underwriters of their option to purchase up to an additional 795,000 shares of common stock, at a public offering price of $45.25 per share. The aggregate gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, were approximately $275.8 million. All of the shares in the offering were offered by Forma.

Jefferies, SVB Leerink and Credit Suisse acted as joint book-running managers for the offering. Oppenheimer & Co acted as lead manager for the offering.

Forma Therapeutics Holdings Inc. represents 41.09 million in outstanding shares, while the company has a total market value of $1.84 billion with the latest information. FMTX stock price has been found in the range of $36.54 to $40.09.

If compared to the average trading volume of 301.81K shares, FMTX reached a trading volume of 2199138 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Forma Therapeutics Holdings Inc. [FMTX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FMTX shares is $61.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FMTX stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

H.C. Wainwright have made an estimate for Forma Therapeutics Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 08, 2020. While these analysts kept the previous recommendation, SVB Leerink raised their target price to Outperform. The new note on the price target was released on July 14, 2020, representing the official price target for Forma Therapeutics Holdings Inc. stock. Previously, the target price had yet another raise to $54, while Jefferies analysts kept a Buy rating on FMTX stock.

The Average True Range (ATR) for Forma Therapeutics Holdings Inc. is set at 3.90, with the Price to Sales ratio for FMTX stock in the period of the last 12 months amounting to 247.17. The Price to Book ratio for the last quarter was 3.62, with the Price to Cash per share for the same quarter was set at 7.29.

Trading performance analysis for FMTX stock

Forma Therapeutics Holdings Inc. [FMTX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.85. With this latest performance, FMTX shares dropped by -4.62% in over the last four-week period, additionally sinking by -8.51% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FMTX stock in for the last two-week period is set at 37.68, with the RSI for the last a single of trading hit 32.46, and the three-weeks RSI is set at 40.59 for Forma Therapeutics Holdings Inc. [FMTX]. The present Moving Average for the last 50 days of trading for this stock 43.84, while it was recorded at 42.94 for the last single week of trading.

Forma Therapeutics Holdings Inc. [FMTX]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Forma Therapeutics Holdings Inc. [FMTX] shares currently have an operating margin of -55.95. Forma Therapeutics Holdings Inc.’s Net Margin is presently recorded at -34.60.

Return on Total Capital for FMTX is now -64.68, given the latest momentum, and Return on Invested Capital for the company is -40.00. Return on Equity for this stock declined to -40.00, with Return on Assets sitting at -15.59.

Receivables Turnover for the company is 2.04 with a Total Asset Turnover recorded at a value of 0.45.Forma Therapeutics Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 13.60 and a Current Ratio set at 13.60.

An analysis of insider ownership at Forma Therapeutics Holdings Inc. [FMTX]

There are presently around $1,014 million, or 63.70% of FMTX stock, in the hands of institutional investors. The top three institutional holders of FMTX stocks are: RA CAPITAL MANAGEMENT, L.P. with ownership of 9,011,651, which is approximately 0% of the company’s market cap and around 6.10% of the total institutional ownership; CORMORANT ASSET MANAGEMENT, LP, holding 3,379,373 shares of the stock with an approximate value of $123.52 million in FMTX stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $67.35 million in FMTX stock with ownership of nearly -15.287% of the company’s market capitalization.

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Positions in Forma Therapeutics Holdings Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 49 institutional holders increased their position in Forma Therapeutics Holdings Inc. [NASDAQ:FMTX] by around 3,886,150 shares. Additionally, 12 investors decreased positions by around 1,490,145 shares, while 5 investors held positions by with 22,372,792 shares. The mentioned changes placed institutional holdings at 27,749,087 shares, according to the latest SEC report filing. FMTX stock had 42 new institutional investments in for a total of 1,347,673 shares, while 7 institutional investors sold positions of 735,945 shares during the same period.

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