Decibel Therapeutics Inc. (NASDAQ:DBTX) saw an upside of 75.63% to $4.90 after adding $2.11 on Wednesday. The 5-day average trading volume is 785,881 shares of the company’s common stock. It has gained $4.97 in the past week and touched a new high 3 times within the past 5 days. An average of 214,005 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 103,276.
DBTX’s 1-month performance is 51.94% or $1.34 on its low of $2.70 reached on 08/08/23. The company’s shares have touched a 52-week low of $1.61 and high of $5.68, with the stock’s rally to the 52-week high happening on 02/09/23. YTD, DBTX has achieved 139.02% or $2.79 and has reached a new high 12 times. However, the current price is down -13.73% from the 52-week high price.
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Valuation Metrics
DBTX stock has a beta of -0.19. Moving on to other valuation ratios, the price-to-book (PB) in the most recent quarter is 1.76.
Decibel Therapeutics Inc.’s quick ratio for the period ended March 30 was 4.10, with the current ratio over the same period at 4.10. The firm’s gross profit as reported stood at $1.19 million against revenue of $63.96 million.
Earnings Surprise
For the quarterly period ending March 30 this year, Decibel Therapeutics Inc.’s cash and short-term investments amounted to $49.88 million against total debt of $13.4 million. Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -5.41% to -$13.3 million, while revenue of -$15.94 million was -19.85% off the previous quarter. Analysts expected DBTX to announce -$0.6 per share in earnings in its latest quarter, but it posted -$0.53, representing a 11.70% surprise. EBITDA for the quarter stood at more than -$13.78 million. DBTX stock balance sheet for the quarter ending March 30 shows that total liabilities totaled 40.61 million, with total debt at $13.4 million. Shareholders hold equity totaling $25.02 million.
Let’s look briefly at Decibel Therapeutics Inc. (DBTX) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 79.23% to suggest the stock is trending Overbought, with historical volatility in this time period at 286.39%.
The stock’s 5-day moving average is $3.23, reflecting a +73.30% or $2.05 change from its current price. DBTX is currently trading +50.62% above its 20-day SMA, +29.62% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +23.66% and SMA200 by+20.88%.
Stochastic %K and %D was 39.89% and 29.27% and the average true range (ATR) pointed at 0.46. The RSI (14) points at 72.27%, while the 14-day stochastic is at 94.05% with the period’s ATR at 0.40. The stock’s 9-day MACD Oscillator is pointing at 0.35 and 0.40 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Decibel Therapeutics Inc. (NASDAQ: DBTX), SVB Securities downgraded it to a Market perform rating. They previously had an Outperform rating on the stock. Analysts offering their rating for DBTX stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate DBTX as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 2 have offered a “buy” rating.
What is DBTX’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $2.00 and a high of $23.00, with their median price target at $18.50. Looking at these predictions, the average price target given by analysts is for Decibel Therapeutics Inc. (DBTX) stock is $15.50.
