How Have Insiders Been Trading EQRx Inc. (EQRX) Stock?

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EQRx Inc. (NASDAQ:EQRX) saw a downside of -1.60% to close Tuesday at $2.46 after subtracting -$0.04 on the day. The 5-day average trading volume is 2,608,340 shares of the company’s common stock. It has gained $2.53 in the past week and touched a new high 3 times within the past 5 days. An average of 3,956,810 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,879,808.

EQRX’s 1-month performance is 10.81% or $0.22 on its low of $2.12 reached on 12/28/22. The company’s shares have touched a 52-week low of $1.87 and high of $6.05, with the stock’s rally to the 52-week high happening on 01/06/23. However, the current price is down -59.34% from the 52-week high price.

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Valuation Metrics

Moving on to other valuation ratios, the price-to-book (PB) in the most recent quarter is 0.84.

EQRx Inc.’s quick ratio for the period ended June 29 was 24.30, with the current ratio over the same period at 24.30.

Earnings Surprise

For the quarterly period ending June 29 this year, EQRx Inc.’s cash and short-term investments amounted to $501.33 million against total debt of $5.26 million. Net income grew 107.69% to -$85.09 million, while revenue of -$82.55 million was 2.99% off the previous quarter. Analysts expected EQRX to announce -$0.19 per share in earnings in its latest quarter, but it posted -$0.17, representing a 10.50% surprise. EQRX stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 143.45 million, with total debt at $5.26 million. Shareholders hold equity totaling $488.43 million.

Let’s look briefly at EQRx Inc. (EQRX) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 45.25% to suggest the stock is trending Neutral, with historical volatility in this time period at 94.30%.

The stock’s 5-day moving average is $2.39, reflecting a +3.80% or $0.09 change from its current price. EQRX is currently trading +10.81% above its 20-day SMA, -47.32% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -54.86% and SMA200 by-43.19%.

Stochastic %K and %D was 38.75% and 31.01% and the average true range (ATR) pointed at 0.19. The RSI (14) points at 43.46%, while the 14-day stochastic is at 36.25% with the period’s ATR at 0.22. The stock’s 9-day MACD Oscillator is pointing at -0.04 and -0.13 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for EQRx Inc. (NASDAQ: EQRX), JP Morgan downgraded it to an Underweight rating. They previously had a Neutral rating on the stock. Analysts offering their rating for EQRX stock have a consensus rating for the stock as Underweight. Currently, 1 brokerage advisors rate EQRX as a “sell,”, while 3 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 0 have offered a “buy” rating.

What is EQRX’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $3.00 and a high of $5.00, with their median price target at $3.20. Looking at these predictions, the average price target given by analysts is for EQRx Inc. (EQRX) stock is $3.73.

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