Better Therapeutics Inc [NASDAQ: BTTX] traded at a low on Thursday, posting a -82.84 loss after which it closed the day’ session at $0.04. The company report on March 14, 2024 at 9:38 AM that Better Therapeutics Announces it will Seek Strategic Alternatives and will be Delisted from Nasdaq.
Better Therapeutics, Inc. (NASDAQ: BTTX) (the “Company”) announced today that the Company is terminating its employees and will explore strategic alternatives, including assignment for the benefit of creditors and/or a wind-down of the Company. This decision was made at a special meeting of the board of directors on Wednesday evening, March 13, 2024. Further, as previously disclosed, the Company’s securities are subject to delisting from the Nasdaq Stock Market unless the Company presents a plan to regain compliance with Nasdaq’s continued listing standards before the Nasdaq hearings panel. The Company has voluntarily requested a delisting of its securities and expects its securities to be delisted in the near term.
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The results of the trading session contributed to over 42556294 shares changing hands. Over the past one week, the price volatility of Better Therapeutics Inc stands at 50.63% while the volatility over the past one month is 22.44%.
The market cap for BTTX stock reached $1.90 million, with 54.35 million shares outstanding and 30.89 million shares in the current float. Compared to the average trading volume of 2.37M shares, BTTX reached a trading volume of 42556294 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Better Therapeutics Inc [BTTX]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BTTX shares is $1.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BTTX stock is a recommendation set at 1.00. 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.
Chardan Capital Markets have made an estimate for Better Therapeutics Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 24, 2021. While these analysts kept the previous recommendation, Cowen raised their target price to Outperform. The new note on the price target was released on November 10, 2021, representing the official price target for Better Therapeutics Inc stock.
How has BTTX stock performed recently?
Better Therapeutics Inc [BTTX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -81.79. With this latest performance, BTTX shares dropped by -79.60% in over the last four-week period, additionally sinking by -93.86% over the last 6 months – not to mention a drop of -96.36% 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 BTTX stock in for the last two-week period is set at 25.34, with the RSI for the last a single of trading hit 19.37, and the three-weeks RSI is set at 29.70 for Better Therapeutics Inc [BTTX]. The present Moving Average for the last 50 days of trading for this stock 0.1868, while it was recorded at 0.1712 for the last single week of trading, and 0.4275 for the last 200 days.
Better Therapeutics Inc [BTTX]: Deeper insight into the fundamentals
Better Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.57 and a Current Ratio set at 0.57.
Earnings analysis for Better Therapeutics Inc [BTTX]
With the latest financial reports released by the company, Better Therapeutics Inc posted -0.37/share EPS, while the average EPS was predicted by analysts to be reported at -0.51/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 27.50%. 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 BTTX.
Insider trade positions for Better Therapeutics Inc [BTTX]
The top three institutional holders of BTTX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BTTX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BTTX stock with ownership which is approximately 5.8325%.
