This trade activity should not be overlooked: Neoleukin Therapeutics Inc. (NLTX)

Neoleukin Therapeutics Inc. (NASDAQ: NLTX) stock jumped 15.69% on Friday to $1.18 against a previous-day closing price of $1.02. With 1.92 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.36 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $1.2194 whereas the lowest price it dropped to was $1.0500. The 52-week range on NLTX shows that it touched its highest point at $8.48 and its lowest point at $0.80 during that stretch. It currently has a 1-year price target of $11.71. Beta for the stock currently stands at 1.09.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NLTX was up-trending over the past week, with a rise of 12.38%, but this was up by 13.46% over a month. Three-month performance surged to 10.28% while six-month performance fell -61.94%. The stock lost -83.12% in the past year, while it has lost -75.52% so far this year. A look at the trailing 12-month EPS for NLTX yields -1.12 with Next year EPS estimates of -1.21. For the next quarter, that number is -0.31. This implies an EPS growth rate of -71.70% for this year and 0.00% for next year. EPS is expected to grow by 31.10% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 10.90%.

Float and Shares Shorts:

At present, 55.20 million NLTX shares are outstanding with a float of 33.45 million shares on hand for trading. On Jul 14, 2022, short shares totaled 1.03 million, which was 2.43% higher than short shares on Jun 14, 2022. In addition to Dr. Jonathan G. Drachman M.D. as the firm’s CEO, Pres, Principal Financial Officer & Director, Dr. Priti Patel M.D., M.S. serves as its Chief Medical Officer.

Institutional Ownership:

Through their ownership of 61.33% of NLTX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 34.66% of NLTX, in contrast to 28.18% held by mutual funds. Shares owned by individuals account for 16.45%. As the largest shareholder in NLTX with 9.00% of the stake, Baker Bros. Advisors LP holds 3,824,000 shares worth 3,824,000. A second-largest stockholder of NLTX, Redmile Group LLC, holds 3,465,435 shares, controlling over 8.15% of the firm’s shares. Millennium Management LLC is the third largest shareholder in NLTX, holding 2,132,586 shares or 5.02% stake. With a 3.32% stake in NLTX, the Pictet – Biotech is the largest stakeholder. A total of 1,409,092 shares are owned by the mutual fund manager. The Pictet – Global Megatrend Selecti, which owns about 1.92% of NLTX stock, is the second-largest Mutual Fund holder. It holds 815,623 shares valued at 0.82 million. Candriam Equities L – Oncology Im holds 1.70% of the stake in NLTX, owning 724,299 shares worth 0.73 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NLTX since 7 analysts follow the stock currently. There are 7 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With NLTX analysts setting a high price target of $22.00 and a low target of $3.00, the average target price over the next 12 months is $11.71. Based on these targets, NLTX could surge 1764.41% to reach the target high and rise by 154.24% to reach the target low. Reaching the average price target will result in a growth of 892.37% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. NLTX will report FY 2022 earnings on 03/16/2023. Analysts have provided yearly estimates in a range of -$1.03 being high and -$1.25 being low. For NLTX, this leads to a yearly average estimate of -$1.17. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Neoleukin Therapeutics Inc. surprised analysts by $0.02 when it reported -$0.28 EPS against a consensus estimate of -$0.30. The surprise factor in the prior quarter was $0.02. Based on analyst estimates, the high estimate for the next quarter is -$0.26 and the low estimate is -$0.34. The average estimate for the next quarter is thus -$0.30.

Summary of Insider Activity:

Insiders traded NLTX stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 6 while that of sell transactions has risen to 3 over the past year. The total number of shares bought during that period was 310,000 while 155,538 shares were sold.

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