BVF Partners LP has recently announced that it has increased stake in Third Harmonic Bio Inc. (NASDAQ:THRD) by 24.68%. After grabbing 4.37 million shares, the institutional investor is now in possession of 0.86 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 10.77% having worth around $18.51 million. Moreover, Stonepine Capital Management LLC increased its share by 0.14 million to have a control over 2.15 million shares. And Tang Capital Management LLC raised its holdings to 1.7 million shares by acquiring 1.7 million shares or 4.19% of the stake.
Third Harmonic Bio Inc. (THRD) concluded trading on 03/15/23 at a closing price of $4.08, with 1.94 million shares of worth about $7.93 million changed hands on the day. On Wednesday the price saw a gain of about 2.51%. Currently the company’s common shares owned by public are about 39.27M shares, out of which, 35.95M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 4 analysts are covering the THRD stock and their offered price forecasts bring an average price target of $4.30. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $5.00 and could fall to a lowest price of $3.60. The stock’s current price level is 74.29% above of average price target set by the analysts, while a rise to estimated low would result in loss of -13.33% for the stock. However, touching the estimated high of $5.00 would mean a gain of 18.4% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 10 times over the past 12 months. They bought 19,138,675 shares in 10 of the transactions. In 0 selling transactions, insiders dumped 0 shares.
Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu are the top 3 mutual funds which are holding stakes in Third Harmonic Bio Inc. Vanguard Total Stock Market Index is currently holding 0.52 million shares of worth totaling $2.19 million. The company recently came buying 49330.0 shares which brought its stake up to 1.27% of the company’s outstanding shares. iShares Russell 2000 ETF sold 756.0 shares, after which its hold over company’s outstanding shares shrunk to 0.59%, leaving 0.24 million shares with the mutual fund that have a worth of about $1.01 million. Vanguard Extended Market Index Fu, after buying 0.14 million shares, have now control over 0.35% of the stake in the company. It holds 0.0 shares of worth $0.61 million.
Third Harmonic Bio Inc. (NASDAQ: THRD) started trading at $3.90, below -$0.08 from concluding price of the previous day. However, the stock later moved at a day high price of 4.2100, or with a gain of 2.51%. Stock saw a price change of -3.09% in past 5 days and over the past one month there was a price change of -5.99%. Over the period of past 52 weeks, stock dropped to lowest price of $3.75 but also hit the highest price of $24.59 during that period. The average intraday trading volume for Third Harmonic Bio Inc. shares is 341.09K. The stock is currently trading -2.72% below its 20-day simple moving average (SMA20), while that difference is down -4.41% for SMA50 and it goes to -65.81% lower than SMA200.
BVF Partners LP acquired 4.37 million shares of Third Harmonic Bio Inc. having value of about $18.51 million. Data submitted at the U.S SEC by BVF Partners LP revealed that the firm now holds 0.86 million shares in the company valued at close to $3525605.52, or have control over 24.68% stake in the company. Third Harmonic Bio Inc. (NASDAQ: THRD) currently have 39.27M outstanding shares and institutions hold larger chunk of about 87.50% of that. Holding of mutual funds in the company is about 3.82% while other institutional holders and individual stake holders have control over 31.66% and 3.53% of the stake respectively.
The stock has a current market capitalization of $165.48M. It has posted earnings per share of -$3.39 in the same period. It has Quick Ratio of 47.90 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for THRD, volatility over the week remained 10.29% while standing at 4.48% over the month.
Analysts are in expectations that Third Harmonic Bio Inc. (THRD) stock would likely to be making an EPS of -$0.47 in the current quarter, while forecast for next quarter EPS is -$0.38 and it is -$2.16 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.71 which is -$0.33 at the higher side of the target for the same. Stock’s fiscal year EPS is expected to drop by -131.20% while it is estimated to increase by 9.60% in next year.
Analysts at 4 brokerage firms have issued recommendations for the Third Harmonic Bio Inc. (THRD)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.50. Out of those 4 Wall Street analysts, 1 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on December 16, 2022 offering a Hold rating for the stock and assigned a target price range of between $30 and $3.60 to it. Coverage by Morgan Stanley stated Third Harmonic Bio Inc. (THRD) stock as an Equal-weight in their note to investors on December 15, 2022, suggesting a price target of $5 for the stock. On October 10, 2022, Morgan Stanley Initiated their recommendations, while on October 10, 2022, Jefferies Initiated their ratings for the stock with a price target of $30. Stock get an Outperform rating from Cowen on October 10, 2022.
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