The Vanguard Group, Inc. has recently announced that it has increased stake in EQRx Inc. (NASDAQ:EQRX) by 23.13%. After grabbing 31.61 million shares, the institutional investor is now in possession of 5.94 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 6.47% having worth around $53.11 million. Moreover, Fidelity Management & Research Co increased its share by 4.65 million to have a control over 24.69 million shares. And Rokos Capital Management LLP raised its holdings to 2.28 million shares by acquiring 15.34 million shares or 3.14% of the stake.
EQRx Inc. (EQRX) concluded trading on 05/25/23 at a closing price of $1.64, with 1.3 million shares of worth about $2.14 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -52.19% during that period and on Thursday the price saw a loss of about -4.65%. Currently the company’s common shares owned by public are about 480.01M shares, out of which, 411.40M 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 EQRX stock and their offered price forecasts bring an average price target of $2.55. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $3.00 and could fall to a lowest price of $2.10. The stock’s current price level is 35.69% above of average price target set by the analysts, while a rise to estimated low would result in gain of 21.9% for the stock. However, touching the estimated high of $3.00 would mean a gain of 45.33% 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 0 times over the past 12 months. They bought 0 shares in 0 of the transactions. In 0 selling transactions, insiders dumped 0 shares.
Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and SPDR S&P Biotech ETF are the top 3 mutual funds which are holding stakes in EQRx Inc. Vanguard Total Stock Market ETF is currently holding 11.59 million shares of worth totaling $19.46 million. The company recently came buying 0.0 shares which brought its stake up to 2.37% of the company’s outstanding shares. Vanguard Small Cap Index Fund sold 2346.0 shares, after which its hold over company’s outstanding shares shrunk to 1.96%, leaving 9.56 million shares with the mutual fund that have a worth of about $16.07 million. SPDR S&P Biotech ETF, after buying 9.5 million shares, have now control over 1.94% of the stake in the company. It holds 0.17 million shares of worth $15.95 million.
EQRx Inc. (NASDAQ: EQRX) started trading at $1.71, below -$0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 1.7600, or with a loss of -4.65%. Stock saw a price change of -2.96% in past 5 days and over the past one month there was a price change of -2.38%. Year-to-date (YTD), EQRX shares are showing a performance of -33.33% which decreased to -61.86% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.58 but also hit the highest price of $6.05 during that period. The average intraday trading volume for EQRx Inc. shares is 2.05 million. The stock is currently trading -4.98% below its 20-day simple moving average (SMA20), while that difference is down -8.96% for SMA50 and it goes to -49.17% lower than SMA200.
The Vanguard Group, Inc. acquired 31.61 million shares of EQRx Inc. having value of about $53.11 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 5.94 million shares in the company valued at close to $9740791.48, or have control over 23.13% stake in the company. EQRx Inc. (NASDAQ: EQRX) currently have 480.01M outstanding shares and institutions hold larger chunk of about 79.10% of that. Holding of mutual funds in the company is about 23.18% while other institutional holders and individual stake holders have control over 27.40% and 16.14% of the stake respectively.
The stock has a current market capitalization of $754.58M. It has posted earnings per share of -$0.36 in the same period. It has Quick Ratio of 22.60 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 EQRX, volatility over the week remained 7.91% while standing at 7.11% over the month.
Analysts are in expectations that EQRx Inc. (EQRX) stock would likely to be making an EPS of -$0.15 in the current quarter, while forecast for next quarter EPS is -$0.16 and it is -$0.65 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.16 which is -$0.13 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.17 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -67.30% while it is estimated to increase by 1.50% in next year.
Analysts at 4 brokerage firms have issued recommendations for the EQRx Inc. (EQRX)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.00. Out of those 4 Wall Street analysts, 1 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
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