The stock of Pardes Biosciences Inc. (NASDAQ:PRDS) decreased by -$0.01 on Wednesday to $2.15, down -0.46 percent. The last five days have seen an average of 1,144,398 shares of common stock traded. 6 times new highs were reached in the current year, with a gain of $0.46. The average number of shares traded over the last 20 days was 550,284, while the average volume over the last 50 days totaled 625,052.
PRDS stock appreciated 2.63% since last month. On 08/10/23, the company’s shares reached a one-month low of $2.06. The stock touched a high of $3.67 on 01/31/23, after rallying from a low of $0.75 in 52 weeks. The price of PRDS stock has risen by 27.22% or $0.46 this year, reaching a new high 6 times. Still, the stock price is down -41.42% from the 52-week high.
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Insider Transactions
PRDS stock investors should be aware that Pardes Biosciences Inc. (PRDS) stock had its last reported insider trading activity 147 days ago on Apr 05. On Apr 05, 10% Owner Foresite Capital Opportunity M acquired 773,952 shares at $1.50 each. This transaction resulted in the insider spending $1,160,928. On Apr 05, Foresite Capital Management V, added 773,952 shares at a price of US$1.50. After the transaction, the insider now owns 13,583,762 shares. Chief Commercial Officer Brusky Sean P. had earlier bought 21,000 shares on Dec 08 for $1.19 a share. The transaction was completed for $24,990.
Financial Health
For the three months ended June 29, Pardes Biosciences Inc.’s quick ratio was 81.70, while its current ratio was 81.70, indicating its ability to pay off its debt.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. PRDS’s return on assets (ROA) during the last 12 months has been -40.70%. In the meantime, the return on equity (ROE) for the last 12 months was -43.40%.
Earnings Surprise
According to Pardes Biosciences Inc.’s quarterly financial report for the quarter that ended June 29. It was predicted that Pardes Biosciences Inc.’s quarterly earnings would be -$0.18, but it ended up being -$0.34, beating the consensus by 47.10%. Equity owned by shareholders amounts to $62.01 million.
Technical Picture
Here’s a quick look at Pardes Biosciences Inc.’s (PRDS) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 63.53%, suggesting the stock is Neutral, with a 6.61% historical volatility rate.
The stochastic %K and %D were 87.78% and 89.26% respectively, while the average true range (ATR) was 0.03. Based on the 14-day stochastic reading of 73.33%, the RSI (14) reading is 63.92%. On the 9-day MACD Oscillator, the stock is at 0.01, and the 14-day reading is at 0.02.
Analyst Ratings
Pardes Biosciences Inc. (NASDAQ: PRDS) was downgraded by JMP Securities to a a Mkt perform rating in its latest research report. The stock was previously rated as a a Mkt outperform. Analysts have assigned Pardes Biosciences Inc. (PRDS) an Hold rating. PRDS is a stock that is recommended for selling by 0 brokerage firms, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 0 others recommend it as a buy.
What is PRDS’s price target for the next 12 months?
The current consensus forecast for the stock is between $1.25 and $1.25, with a median target price of $1.25. In analyzing these forecasts, the average price target given by analysts for Pardes Biosciences Inc. (PRDS) is $1.25.
