EQRx Inc. [NASDAQ: EQRX] stock went on a downward path that fall over -21.20% on Thursday, amounting to a one-week price decrease of less than -14.95%. The company report on August 11, 2022 that EQRx Reports Second Quarter 2022 Financial Results and Recent Corporate Progress.
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Initiated a U.S.-led, comparative Phase 3b clinical trial with aumolertinib for the first-line treatment of EGFR-mutated NSCLC.
Announced U.K. MHRA acceptance of EQRx’s first regulatory submission (aumolertinib) for review; first sugemalimab regulatory submission expected ex-U.S. in 2H 2022; continue to engage in constructive conversations with the U.S. FDA.
Over the last 12 months, EQRX stock dropped by -52.59%. The one-year EQRx Inc. stock forecast points to a potential upside of 30.59. The average equity rating for EQRX stock is currently 1.70, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $2.24 billion, with 470.63 million shares outstanding and 407.89 million shares in the current float. Compared to the average trading volume of 2.41M shares, EQRX stock reached a trading volume of 3241844 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $6.80 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 1.70. 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.
Goldman have made an estimate for EQRx Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 13, 2022. While these analysts kept the previous recommendation, Cowen raised their target price to Outperform. The new note on the price target was released on April 22, 2022, representing the official price target for EQRx Inc. stock. Previously, the target price had yet another raise to $5.60, while Jefferies analysts kept a Buy rating on EQRX stock.
The Average True Range (ATR) for EQRx Inc. is set at 0.48 The Price to Book ratio for the last quarter was 1.43, with the Price to Cash per share for the same quarter was set at 3.42.
EQRX Stock Performance Analysis:
EQRx Inc. [EQRX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.95. With this latest performance, EQRX shares gained by 6.79% in over the last four-week period, additionally plugging by 12.92% over the last 6 months – not to mention a drop of -52.59% 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 43.49, with the RSI for the last a single of trading hit 38.07, and the three-weeks RSI is set at 46.41 for EQRx Inc. [EQRX]. The present Moving Average for the last 50 days of trading for this stock 4.93, while it was recorded at 5.58 for the last single week of trading, and 5.67 for the last 200 days.
Insight into EQRx Inc. 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.
EQRx Inc. [EQRX] Insider Position Details
There are presently around $1,387 million, or 60.40% 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 16.37% of the total institutional ownership; CASDIN CAPITAL, LLC, holding 39,527,669 shares of the stock with an approximate value of $186.57 million in EQRX stocks shares; and ARCH VENTURE MANAGEMENT, LLC, currently with $171.5 million in EQRX stock with ownership of nearly 0% of the company’s market capitalization.
Positions in EQRx Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 68 institutional holders increased their position in EQRx Inc. [NASDAQ:EQRX] by around 30,356,223 shares. Additionally, 26 investors decreased positions by around 10,609,597 shares, while 26 investors held positions by with 252,866,578 shares. The mentioned changes placed institutional holdings at 293,832,398 shares, according to the latest SEC report filing. EQRX stock had 46 new institutional investments in for a total of 16,516,310 shares, while 17 institutional investors sold positions of 5,230,118 shares during the same period.