Neoleukin Therapeutics Inc. [NASDAQ: NLTX] gained 35.80% on the last trading session, reaching $0.72 price per share at the time. The company report on March 8, 2023 that Neoleukin Therapeutics Provides Strategic Update and Announces Restructuring and Leadership Transition.
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In connection with the evaluation of strategic alternatives, the Board of Directors of Neoleukin also approved a further corporate restructuring to preserve cash, including a reduction in the Company’s workforce by approximately 70%. Chief Executive Officer Jonathan Drachman, M.D., will also be stepping down after a short transition. The Company expects this reduction in force to be completed during the first half of 2023.
Neoleukin Therapeutics Inc. represents 55.25 million in outstanding shares, while the company has a total market value of $31.08 million with the latest information. NLTX stock price has been found in the range of $0.642 to $0.7595.
If compared to the average trading volume of 252.09K shares, NLTX reached a trading volume of 10824559 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 Neoleukin Therapeutics Inc. [NLTX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NLTX shares is $1.30 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NLTX stock is a recommendation set at 3.00. 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.
Piper Sandler have made an estimate for Neoleukin Therapeutics Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on August 06, 2021. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on January 06, 2021, representing the official price target for Neoleukin Therapeutics Inc. stock. Previously, the target price had yet another raise to $25, while Robert W. Baird analysts kept a Outperform rating on NLTX stock.
The Average True Range (ATR) for Neoleukin Therapeutics Inc. is set at 0.06 The Price to Book ratio for the last quarter was 0.38, with the Price to Cash per share for the same quarter was set at 2.47.
Trading performance analysis for NLTX stock
Neoleukin Therapeutics Inc. [NLTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 38.49. With this latest performance, NLTX shares gained by 12.24% in over the last four-week period, additionally sinking by -29.41% over the last 6 months – not to mention a drop of -68.56% 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 NLTX stock in for the last two-week period is set at 73.31, with the RSI for the last a single of trading hit 80.89, and the three-weeks RSI is set at 68.23 for Neoleukin Therapeutics Inc. [NLTX]. The present Moving Average for the last 50 days of trading for this stock 0.5560, while it was recorded at 0.5642 for the last single week of trading, and 0.7542 for the last 200 days.
Neoleukin Therapeutics Inc. [NLTX]: A deeper dive into fundamental analysis
Return on Equity for this stock declined to -36.33, with Return on Assets sitting at -32.47.
Neoleukin Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.60 and a Current Ratio set at 10.60.
Neoleukin Therapeutics Inc. [NLTX]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NLTX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Neoleukin Therapeutics Inc. go to 25.10%.
An analysis of insider ownership at Neoleukin Therapeutics Inc. [NLTX]
There are presently around $13 million, or 45.00% of NLTX stock, in the hands of institutional investors. The top three institutional holders of NLTX stocks are: BAKER BROS. ADVISORS LP with ownership of 3,821,740, which is approximately 0% of the company’s market cap and around 21.49% of the total institutional ownership; LYNX1 CAPITAL MANAGEMENT LP, holding 2,291,133 shares of the stock with an approximate value of $1.65 million in NLTX stocks shares; and REDMILE GROUP, LLC, currently with $1.33 million in NLTX stock with ownership of nearly -46.157% of the company’s market capitalization.
Positions in Neoleukin Therapeutics Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 17 institutional holders increased their position in Neoleukin Therapeutics Inc. [NASDAQ:NLTX] by around 3,955,319 shares. Additionally, 27 investors decreased positions by around 5,394,604 shares, while 18 investors held positions by with 8,041,116 shares. The mentioned changes placed institutional holdings at 17,391,039 shares, according to the latest SEC report filing. NLTX stock had 9 new institutional investments in for a total of 2,465,542 shares, while 11 institutional investors sold positions of 871,206 shares during the same period.