Market Analysts see Decibel Therapeutics Inc. [DBTX] gaining to $23. Time to buy?

Decibel Therapeutics Inc. [NASDAQ: DBTX] traded at a low on 09/02/22, posting a -9.02 loss after which it closed the day’ session at $4.44. The company report on August 31, 2022 that Decibel Therapeutics to Participate in Upcoming Investor Conferences.

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Decibel Therapeutics (Nasdaq: DBTX), a clinical-stage biotechnology company dedicated to discovering and developing transformative treatments to restore and improve hearing and balance, today announced that Laurence Reid, Ph.D., Chief Executive Officer, will be participating in the following upcoming investor conferences in September.

The results of the trading session contributed to over 57948 shares changing hands. Over the past one week, the price volatility of Decibel Therapeutics Inc. stands at 11.35% while the volatility over the past one month is 8.77%.

The market cap for DBTX stock reached $110.60 million, with 24.96 million shares outstanding and 11.24 million shares in the current float. Compared to the average trading volume of 248.43K shares, DBTX reached a trading volume of 57948 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Decibel Therapeutics Inc. [DBTX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DBTX shares is $15.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DBTX 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.

H.C. Wainwright have made an estimate for Decibel Therapeutics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 15, 2021. While these analysts kept the previous recommendation, Robert W. Baird raised their target price to Outperform. The new note on the price target was released on October 22, 2021, representing the official price target for Decibel Therapeutics Inc. stock. Previously, the target price had yet another raise to $26, while SVB Leerink analysts kept a Outperform rating on DBTX stock.

The Average True Range (ATR) for Decibel Therapeutics Inc. is set at 0.41 The Price to Book ratio for the last quarter was 0.99, with the Price to Cash per share for the same quarter was set at 5.05.

How has DBTX stock performed recently?

Decibel Therapeutics Inc. [DBTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.83. With this latest performance, DBTX shares dropped by -1.55% in over the last four-week period, additionally plugging by 31.36% over the last 6 months – not to mention a drop of -49.20% 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 DBTX stock in for the last two-week period is set at 49.74, with the RSI for the last a single of trading hit 47.45, and the three-weeks RSI is set at 51.48 for Decibel Therapeutics Inc. [DBTX]. The present Moving Average for the last 50 days of trading for this stock 4.43, while it was recorded at 4.64 for the last single week of trading, and 3.88 for the last 200 days.

Decibel Therapeutics Inc. [DBTX]: Deeper insight into the fundamentals

Return on Equity for this stock declined to -119.26, with Return on Assets sitting at -41.17.

Decibel Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.20 and a Current Ratio set at 6.20.

Insider trade positions for Decibel Therapeutics Inc. [DBTX]

There are presently around $72 million, or 65.20% of DBTX stock, in the hands of institutional investors. The top three institutional holders of DBTX stocks are: ORBIMED ADVISORS LLC with ownership of 4,945,192, which is approximately 0% of the company’s market cap and around 20.20% of the total institutional ownership; TRV GP III, LLC, holding 3,139,685 shares of the stock with an approximate value of $13.94 million in DBTX stocks shares; and BLACKROCK INC., currently with $8.41 million in DBTX stock with ownership of nearly -0.145% of the company’s market capitalization.

Positions in Decibel Therapeutics Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 19 institutional holders increased their position in Decibel Therapeutics Inc. [NASDAQ:DBTX] by around 1,191,819 shares. Additionally, 20 investors decreased positions by around 1,066,341 shares, while 11 investors held positions by with 13,974,426 shares. The mentioned changes placed institutional holdings at 16,232,586 shares, according to the latest SEC report filing. DBTX stock had 10 new institutional investments in for a total of 925,463 shares, while 9 institutional investors sold positions of 983,155 shares during the same period.


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