This trade activity should not be overlooked: EQRx Inc. (EQRX)

EQRx Inc. (NASDAQ: EQRX) stock jumped 8.30% on Friday to $2.48 against a previous-day closing price of $2.29. With 3.43 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.38 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $2.5000 whereas the lowest price it dropped to was $2.2800. The 52-week range on EQRX shows that it touched its highest point at $6.05 and its lowest point at $1.87 during that stretch. It currently has a 1-year price target of $4.07.

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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 EQRX was down-trending over the past week, with a drop of -11.43%, but this was up by 16.43% over a month. Three-month performance dropped to -42.33% while six-month performance fell -49.39%. The stock lost -54.33% in the past year, while it has gained 0.81% so far this year. A look at the trailing 12-month EPS for EQRX yields -0.31 with Next year EPS estimates of -0.79. For the next quarter, that number is -0.21. This implies an EPS growth rate of 58.40% for this year and -36.20% for next year.

Float and Shares Shorts:

At present, 475.57 million EQRX shares are outstanding with a float of 412.64 million shares on hand for trading. On Oct 13, 2022, short shares totaled 23.14 million, which was 5.16% higher than short shares on Sep 14, 2022. In addition to Mr. Alexis A. Borisy A.M. as the firm’s Founder & Exec. Chairman of Board of Directors, Ms. Melanie I. Nallicheri serves as its CEO & Director.

Institutional Ownership:

Through their ownership of 65.36% of EQRX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 27.41% of EQRX, in contrast to 21.13% held by mutual funds. Shares owned by individuals account for 15.24%. As the largest shareholder in EQRX with 9.87% of the stake, Casdin Capital LLC holds 48,187,041 shares worth 48,187,041. A second-largest stockholder of EQRX, The Vanguard Group, Inc., holds 21,901,555 shares, controlling over 4.48% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in EQRX, holding 19,769,079 shares or 4.05% stake. With a 2.47% stake in EQRX, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 12,064,490 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 1.84% of EQRX stock, is the second-largest Mutual Fund holder. It holds 8,997,500 shares valued at 22.13 million. Vanguard Small Cap Index Fund holds 1.55% of the stake in EQRX, owning 7,551,735 shares worth 18.58 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EQRX since 5 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 3 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 EQRX analysts setting a high price target of $5.00 and a low target of $3.00, the average target price over the next 12 months is $3.73. Based on these targets, EQRX could surge 101.61% to reach the target high and rise by 20.97% to reach the target low. Reaching the average price target will result in a growth of 50.4% 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. EQRX will report FY 2022 earnings on 03/20/2024. Analysts have provided yearly estimates in a range of -$0.51 being high and -$0.71 being low. For EQRX, this leads to a yearly average estimate of -$0.60. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. EQRx Inc. surprised analysts by $0.02 when it reported -$0.18 EPS against a consensus estimate of -$0.20. The surprise factor in the prior quarter was $0.03. Based on analyst estimates, the high estimate for the next quarter is -$0.19 and the low estimate is -$0.24. The average estimate for the next quarter is thus -$0.21.

Summary of Insider Activity:

Insiders traded EQRX 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 remained unchanged to 0 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 0 while 0 shares were sold.

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