Market Analysts see Third Harmonic Bio Inc. [THRD] gaining to $5. Time to buy?

Third Harmonic Bio Inc. [NASDAQ: THRD] stock went on a downward path that fall over -78.28% on Thursday, amounting to a one-week price decrease of less than -79.03%. The company report on December 15, 2022 that Third Harmonic Bio Announces Discontinuation of Phase 1b Study of THB001 in Chronic Inducible Urticaria.

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— Company decision follows observation of asymptomatic liver transaminitis in two subjects enrolled in first dose cohort of 200mg BID.

— Evidence of clinical activity observed; full data set to be presented at upcoming scientific conference.

The one-year Third Harmonic Bio Inc. stock forecast points to a potential upside of 87.47. The average equity rating for THRD stock is currently 1.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $187.82 million, with 39.27 million shares outstanding and 35.95 million shares in the current float. Compared to the average trading volume of 144.35K shares, THRD stock reached a trading volume of 7471341 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Third Harmonic Bio Inc. [THRD]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for THRD shares is $34.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on THRD 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.

Morgan Stanley have made an estimate for Third Harmonic Bio Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on December 15, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Overweight. The new note on the price target was released on October 10, 2022, representing the official price target for Third Harmonic Bio Inc. stock. Previously, the target price had yet another raise to $30, while Jefferies analysts kept a Buy rating on THRD stock.

The Average True Range (ATR) for Third Harmonic Bio Inc. is set at 2.96 The Price to Book ratio for the last quarter was 0.57, with the Price to Cash per share for the same quarter was set at 6.86.

THRD Stock Performance Analysis:

Third Harmonic Bio Inc. [THRD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -79.03.

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 THRD stock in for the last two-week period is set at 20.29, with the RSI for the last a single of trading hit 14.98, and the three-weeks RSI is set at 24.74 for Third Harmonic Bio Inc. [THRD]. The present Moving Average for the last 50 days of trading for this stock 19.18, while it was recorded at 16.83 for the last single week of trading.

Insight into Third Harmonic Bio Inc. Fundamentals:

Return on Equity for this stock declined to -47.83, with Return on Assets sitting at -43.04.

Third Harmonic Bio Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 47.90 and a Current Ratio set at 47.90.

Third Harmonic Bio Inc. [THRD] Insider Position Details

There are presently around $153 million, or 87.50% of THRD stock, in the hands of institutional investors. The top three institutional holders of THRD stocks are: ATLAS VENTURE LIFE SCIENCE ADVISORS, LLC with ownership of 10,907,859, which is approximately New of the company’s market cap and around 3.50% of the total institutional ownership; ORBIMED ADVISORS LLC, holding 5,779,071 shares of the stock with an approximate value of $24.85 million in THRD stocks shares; and BVF INC/IL, currently with $15.06 million in THRD stock with ownership of nearly New of the company’s market capitalization.

Positions in Third Harmonic Bio Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 40 institutional holders increased their position in Third Harmonic Bio Inc. [NASDAQ:THRD] by around 35,467,923 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 35,467,923 shares, according to the latest SEC report filing. THRD stock had 40 new institutional investments in for a total of 35,467,923 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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