EQRx Inc. [EQRX] is -39.88% lower this YTD. Is it still time to buy?


EQRx Inc. [NASDAQ: EQRX] traded at a low on 06/09/22, posting a -5.96 loss after which it closed the day’ session at $4.10. The company report on May 31, 2022 that EQRx to Participate at Upcoming Investor Conferences.

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EQRx, Inc. (Nasdaq: EQRX), a new type of pharmaceutical company committed to developing and delivering innovative medicines to patients at radically lower prices, today announced that management will participate in the following investor conferences in June:.

Jefferies Global Healthcare ConferenceFireside Chat: Thursday, June 9, 2022, 11:30 a.m. PT / 2:30 p.m. ET.

The results of the trading session contributed to over 2353017 shares changing hands. Over the past one week, the price volatility of EQRx Inc. stands at 14.16% while the volatility over the past one month is 11.72%.

The market cap for EQRX stock reached $2.00 billion, with 470.63 million shares outstanding and 407.76 million shares in the current float. Compared to the average trading volume of 1.53M shares, EQRX reached a trading volume of 2353017 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about EQRx Inc. [EQRX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EQRX shares is $5.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EQRX stock is a recommendation set at 1.50. 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.

Cowen have made an estimate for EQRx Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 22, 2022. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on March 18, 2022, representing the official price target for EQRx Inc. stock.

The Average True Range (ATR) for EQRx Inc. is set at 0.50 The Price to Book ratio for the last quarter was 1.25, with the Price to Cash per share for the same quarter was set at 3.33.

How has EQRX stock performed recently?

EQRx Inc. [EQRX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -25.05. With this latest performance, EQRX shares gained by 22.39% in over the last four-week period, additionally sinking by -58.84% over the last 6 months – not to mention a drop of -60.00% in the past year of trading.

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 EQRX stock in for the last two-week period is set at 42.45, with the RSI for the last a single of trading hit 36.67, and the three-weeks RSI is set at 45.28 for EQRx Inc. [EQRX]. The present Moving Average for the last 50 days of trading for this stock 4.47, while it was recorded at 4.56 for the last single week of trading, and 6.73 for the last 200 days.

EQRx Inc. [EQRX]: Deeper insight into the fundamentals

EQRx Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 29.20 and a Current Ratio set at 29.20.

Insider trade positions for EQRx Inc. [EQRX]

There are presently around $1,273 million, or 59.70% of EQRX stock, in the hands of institutional investors. The top three institutional holders of EQRX stocks are: SB MANAGEMENT LTD with ownership of 43,176,600, which is approximately 0% of the company’s market cap and around 5.90% of the total institutional ownership; CASDIN CAPITAL, LLC, holding 39,527,669 shares of the stock with an approximate value of $172.34 million in EQRX stocks shares; and ARCH VENTURE MANAGEMENT, LLC, currently with $158.42 million in EQRX stock with ownership of nearly 0% of the company’s market capitalization.

56 institutional holders increased their position in EQRx Inc. [NASDAQ:EQRX] by around 29,292,996 shares. Additionally, 19 investors decreased positions by around 11,055,142 shares, while 26 investors held positions by with 251,708,839 shares. The mentioned changes placed institutional holdings at 292,056,977 shares, according to the latest SEC report filing. EQRX stock had 37 new institutional investments in for a total of 15,595,870 shares, while 11 institutional investors sold positions of 6,895,153 shares during the same period.