At the last check on Friday, Pardes Biosciences Inc.’s (NASDAQ:PRDS) stock was up $0.02, moving up 1.18 percent to $2.13. The average number of shares traded per day over the past five days has been 263,102 shares. 5 times new highs have been achieved over the past 5 days, with a $0.03 gain in that time frame. In the last twenty days, the average volume was 510,635, while in the previous 50 days, it was 501,094.
Since last month, PRDS stock retreated -0.70%. Shares of the company fell to $2.06 on 08/10/23, the lowest level in the past month. A 52-week high of $3.93 was reached on 01/31/23 after having rallying from a 52-week low of $0.75. Since the beginning of this year, PRDS’s stock price has risen by 26.33% or $0.44, and marked a new high 6 times. However, the stock has declined by -45.67% since its 52-week high.
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Sponsored
PRDS stock investors should be aware that Pardes Biosciences Inc. (PRDS) stock had its last reported insider trading activity 135 days ago on Apr 05. Foresite Capital Opportunity M, the 10% Owner of the company, purchased of 773,952 shares for $1.50 on Apr 05. It resulted in a $1,160,928 investment by the insider. Foresite Capital Management V, added 773,952 shares at an average price of $1.50 on Apr 05. The insider now owns 13,583,762 shares following the transaction. On Dec 08, Chief Commercial Officer Brusky Sean P. bought 21,000 shares at $1.19 apiece. The transaction was valued at $24,990.
Financial Health
In the three months ended June 29, Pardes Biosciences Inc.’s quick ratio stood at 81.70, while its current ratio was 81.70, showing that the company is able to pay off its debt.
While analysts expected Pardes Biosciences Inc. to report -$0.34 quarterly earnings, the actual figure was -$0.18 per share, beating the consensus estimate by 47.10%. The liabilities of Pardes Biosciences Inc. were 1.93 million at the end of its most recent quarter ended June 29. The value of shareholders’ equity is $62.01 million.
Technical Picture
This quick technical analysis looks at Pardes Biosciences Inc.’s (PRDS) price momentum. With a historical volatility rate of 10.91%, the RSI 9-day stood at 66.77% on 17 August.
With respect to its five-day moving average, the current Pardes Biosciences Inc. price is up by +1.18% percent or $0.03. At present, PRDS shares trade -0.70% below its 20-day simple moving average and +69.44% percent above its 100-day simple moving average. However, the stock is currently trading approximately +15.41% above its SMA50 and +77.92% above its SMA200.
Stochastic coefficient K was 56.58% and Stochastic coefficient D was 48.10%, while ATR was 0.04. Given the Stochastic reading of 75.00% for the 14-day period, the RSI (14) reading has been calculated as 64.74%. As of today, the MACD Oscillator reading stands at 0.01.
Analyst Ratings
Pardes Biosciences Inc. downgraded its rating on Pardes Biosciences Inc. (NASDAQ: PRDS) to a Mkt perform in a note to investors on July 18, 2023. The analysts firm previously had a Mkt outperform rating on the stock.Pardes Biosciences Inc. (PRDS) has been rated Hold by analysts. According to 0 brokerage firms, PRDS is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Pardes Biosciences Inc. stock as buy, with 0 recommending it as overweight.
With a median target price of $1.25, the current consensus forecast for the stock is $1.25 – $1.25. Based on these forecasts, analysts predict Pardes Biosciences Inc. (PRDS) will achieve an average price target of $1.25.
