Third Harmonic Bio Inc [NASDAQ: THRD] gained 5.88% or 0.75 points to close at $13.50 with a heavy trading volume of 4168518 shares.
The daily chart for THRD points out that the company has recorded 48.19% gains over the past six months.
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If we look at the average trading volume of 80.00K shares, THRD reached to a volume of 4168518 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 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 $19.00 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 1.50. 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.
Morgan Stanley have made an estimate for Third Harmonic Bio Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on August 09, 2024. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on June 18, 2024, representing the official price target for Third Harmonic Bio Inc stock. Previously, the target price had yet another raise to $18, while Raymond James analysts kept a Outperform rating on THRD stock. On December 16, 2022, analysts decreased their price target for THRD shares from 30 to 3.60.
The Average True Range (ATR) for Third Harmonic Bio Inc is set at 0.81 The Price to Book ratio for the last quarter was 2.14, with the Price to Cash per share for the same quarter was set at 6.21.
Trading performance analysis for THRD stock
Third Harmonic Bio Inc [THRD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.85. With this latest performance, THRD shares gained by 13.26% in over the last four-week period, additionally plugging by 48.19% over the last 6 months – not to mention a rise of 128.81% 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 THRD stock in for the last two-week period is set at 61.06, with the RSI for the last a single of trading hit 64.28, and the three-weeks RSI is set at 58.45 for Third Harmonic Bio Inc [THRD]. The present Moving Average for the last 50 days of trading for this stock 12.18, while it was recorded at 13.24 for the last single week of trading, and 11.31 for the last 200 days.
Third Harmonic Bio Inc [THRD]: A deeper dive into fundamental analysis
Third Harmonic Bio Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 41.13 and a Current Ratio set at 41.13.
An analysis of Institutional ownership at Third Harmonic Bio Inc [THRD]
There are presently around $98.12%, or 108.93%% 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 10.91 million shares, which is approximately 26.8961%. ORBIMED ADVISORS LLC, holding 5.78 million shares of the stock with an approximate value of $$75.13 million in THRD stocks shares; and ORBIMED ADVISORS LLC, currently with $$56.76 million in THRD stock with ownership which is approximately 10.7653%.
