Pear Therapeutics Inc. [NASDAQ: PEAR] loss -39.24% on the last trading session, reaching $0.07 price per share at the time. The company report on April 7, 2023 that Pear Therapeutics Files for Chapter 11 and Will Seek to Sell Assets Through Sales Process.
Pear Therapeutics, Inc. (Nasdaq: PEAR) (“the Company”), a company focused on developing and commercializing software-based medicines called prescription digital therapeutics (PDTs), today announced that the Company and its wholly owned subsidiary, Pear Therapeutics (US), Inc. (collectively, the “Debtors”) each voluntarily filed for protection under chapter 11 (“Chapter 11”) of the U.S. Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) and they intend to pursue a sale of the business or assets under section 363 of the Bankruptcy Code.
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Prior to the filing of the Chapter 11 cases, the Debtors evaluated a wide range of strategic alternatives to maximize value for all stakeholders. The Debtors also significantly reduced operating expenses. With the protections afforded by the Bankruptcy Code, the Debtors intend to continue their marketing efforts to potential purchasers interested in specific assets as well as continuing to seek a sale of the whole business. Any of those sales would be subject to review and approval by the Bankruptcy Court and compliance with bidding procedures to be approved by the Bankruptcy Court.
Pear Therapeutics Inc. represents 139.72 million in outstanding shares, while the company has a total market value of $16.90 million with the latest information. PEAR stock price has been found in the range of $0.0616 to $0.0858.
If compared to the average trading volume of 6.15M shares, PEAR reached a trading volume of 66490817 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 Pear Therapeutics Inc. [PEAR]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PEAR shares is $4.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PEAR stock is a recommendation set at 2.50. 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.
BofA Securities have made an estimate for Pear Therapeutics Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 26, 2022. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Outperform. The new note on the price target was released on January 20, 2022, representing the official price target for Pear Therapeutics Inc. stock. Previously, the target price had yet another raise to $12, while BTIG Research analysts kept a Buy rating on PEAR stock.
The Average True Range (ATR) for Pear Therapeutics Inc. is set at 0.07, with the Price to Sales ratio for PEAR stock in the period of the last 12 months amounting to 1.33. The Price to Book ratio for the last quarter was 0.33, with the Price to Cash per share for the same quarter was set at 0.25.
Trading performance analysis for PEAR stock
Pear Therapeutics Inc. [PEAR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -68.00. With this latest performance, PEAR shares dropped by -87.90% in over the last four-week period, additionally sinking by -96.97% over the last 6 months – not to mention a drop of -98.37% 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 PEAR stock in for the last two-week period is set at 22.76, with the RSI for the last a single of trading hit 20.74, and the three-weeks RSI is set at 24.61 for Pear Therapeutics Inc. [PEAR]. The present Moving Average for the last 50 days of trading for this stock 0.6665, while it was recorded at 0.1058 for the last single week of trading, and 1.5092 for the last 200 days.
Pear Therapeutics Inc. [PEAR]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Pear Therapeutics Inc. [PEAR] shares currently have an operating margin of -971.72 and a Gross Margin at +35.54. Pear Therapeutics Inc.’s Net Margin is presently recorded at -594.70.
Return on Equity for this stock declined to -124.76, with Return on Assets sitting at -51.66.
Pear Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.50.
An analysis of insider ownership at Pear Therapeutics Inc. [PEAR]
There are presently around $6 million, or 73.40% of PEAR stock, in the hands of institutional investors. The top three institutional holders of PEAR stocks are: TEMASEK HOLDINGS (PRIVATE) LTD with ownership of 26,803,573, which is approximately 0% of the company’s market cap and around 4.40% of the total institutional ownership; 5AM VENTURE MANAGEMENT, LLC, holding 16,744,113 shares of the stock with an approximate value of $1.21 million in PEAR stocks shares; and SB GLOBAL ADVISERS LTD, currently with $0.87 million in PEAR stock with ownership of nearly 0% of the company’s market capitalization.
Positions in Pear Therapeutics Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 38 institutional holders increased their position in Pear Therapeutics Inc. [NASDAQ:PEAR] by around 3,973,248 shares. Additionally, 18 investors decreased positions by around 2,156,183 shares, while 17 investors held positions by with 77,962,908 shares. The mentioned changes placed institutional holdings at 84,092,339 shares, according to the latest SEC report filing. PEAR stock had 14 new institutional investments in for a total of 3,181,507 shares, while 8 institutional investors sold positions of 477,266 shares during the same period.