EQRx Inc. [NASDAQ: EQRX] gained 0.78% or 0.04 points to close at $5.20 with a heavy trading volume of 3166283 shares. 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.
It opened the trading session at $5.00, the shares rose to $5.25 and dropped to $4.8715, the range by which the price of stock traded the whole day. The daily chart for EQRX points out that the company has recorded 20.65% gains over the past six months. However, it is still -97.72% lower than its most recent low trading price.
If we look at the average trading volume of 2.50M shares, EQRX reached to a volume of 3166283 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 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 $6.78 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 2.00. 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.
JP Morgan have made an estimate for EQRx Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 16, 2022. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on June 13, 2022, representing the official price target for EQRx Inc. stock.
The Average True Range (ATR) for EQRx Inc. is set at 0.40 The Price to Book ratio for the last quarter was 1.67, with the Price to Cash per share for the same quarter was set at 3.02.
Trading performance analysis for EQRX stock
EQRx Inc. [EQRX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.56. With this latest performance, EQRX shares dropped by -3.35% in over the last four-week period, additionally plugging by 20.65% over the last 6 months – not to mention a drop of -47.69% 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 54.53, with the RSI for the last a single of trading hit 57.51, and the three-weeks RSI is set at 52.97 for EQRx Inc. [EQRX]. The present Moving Average for the last 50 days of trading for this stock 5.05, while it was recorded at 5.04 for the last single week of trading, and 4.68 for the last 200 days.
EQRx Inc. [EQRX]: A deeper dive into fundamental analysis
EQRx Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 28.70 and a Current Ratio set at 28.70.
An analysis of insider ownership at EQRx Inc. [EQRX]
There are presently around $1,873 million, or 68.90% 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 25.21% of the total institutional ownership; SOFTBANK GROUP CORP, holding 43,176,600 shares of the stock with an approximate value of $224.52 million in EQRX stocks shares; and CASDIN CAPITAL, LLC, currently with $205.54 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 November and at the time of the November reporting period, where 74 institutional holders increased their position in EQRx Inc. [NASDAQ:EQRX] by around 78,997,649 shares. Additionally, 39 investors decreased positions by around 10,309,332 shares, while 24 investors held positions by with 270,894,851 shares. The mentioned changes placed institutional holdings at 360,201,832 shares, according to the latest SEC report filing. EQRX stock had 49 new institutional investments in for a total of 53,204,543 shares, while 27 institutional investors sold positions of 6,990,786 shares during the same period.