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EQRx Inc. (NASDAQ:EQRX) Climbs 58.40% In 2022; Is It Attractive Enough At $3.49?

In last trading session, EQRx Inc. (NASDAQ:EQRX) saw 2.03 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $3.49 trading at $0.06 or 1.75% at ring of the bell on the day assigns it a market valuation of $1.71B. That closing price of EQRX’s stock is at a discount of -186.25% from its 52-week high price of $9.99 and is indicating a premium of 24.64% from its 52-week low price of $2.63. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 3.58 million shares which gives us an average trading volume of 2.86 million if we extend that period to 3-months.

For EQRx Inc. (EQRX), analysts’ consensus is at an average recommendation of a Hold while assigning it a mean rating of 3.00. Splitting up the data highlights that, out of 5 analysts covering the stock, 1 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 2 suggested the stock as a Hold whereas 2 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.2 in the current quarter.

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EQRx Inc. (NASDAQ:EQRX) trade information

Upright in the green during last session for gaining 1.75%, in the last five days EQRX remained trading in the green while hitting it’s week-highest on Wednesday, 11/23/22 when the stock touched $3.49 price level, adding 5.42% to its value on the day. EQRx Inc.’s shares saw a change of -48.83% in year-to-date performance and have moved 1.45% in past 5-day. EQRx Inc. (NASDAQ:EQRX) showed a performance of -30.20% in past 30-days. Number of shares sold short was 23.14 million shares which calculate 5.82 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $5.40 to the stock, which implies a rise of 35.37% to its current value. Analysts have been projecting $3.20 as a low price target for the stock while placing it at a high target of $8.00. It follows that stock’s current price would drop -129.23% in reaching the projected high whereas dropping to the targeted low would mean a gain of 8.31% for stock’s current value.

EQRx Inc. (EQRX) estimates and forecasts

Statistics highlight that EQRx Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -24.62% of value to its shares in past 6 months, showing an annual growth rate of -70.97% while that of industry is 11.20. Apart from that, the company came lowering its revenue forecast for fiscal year 2022.

EQRX Dividends

EQRx Inc. is more likely to be releasing its next quarterly report on August 11 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

EQRx Inc. (NASDAQ:EQRX)’s Major holders

Insiders are in possession of 25.21% of company’s total shares while institution are holding 65.36 percent of that, with stock having share float percentage of 87.39%. Investors also watch the number of corporate investors in a company very closely, which is 65.36% institutions for EQRx Inc. that are currently holding shares of the company. Softbank Group Corporation is the top institutional holder at EQRX for having 43.18 million shares of worth $202.5 million. And as of Jun 29, 2022, it was holding 9.63% of the company’s outstanding shares.

The second largest institutional holder is Casdin Capital, LLC, which was holding about 39.53 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 8.82% of outstanding shares, having a total worth of $185.38 million.

On the other hand, Fidelity Growth Company Fund and SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF are the top two Mutual Funds which own company’s shares. As of Jul 30, 2022, the former fund manager was holding 6.67 million shares of worth $36.38 million or 1.49% of the total outstanding shares. The later fund manager was in possession of 6.35 million shares on Sep 29, 2022, making its stake of worth around $31.42 million in the company or a holder of 1.42% of company’s stock.

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