EQRx (NASDAQ:EQRX) Announces Earnings Results

EQRx (NASDAQ:EQRXGet Rating) released its earnings results on Friday. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.34, MarketWatch Earnings reports.

EQRX stock traded up $0.80 during midday trading on Friday, hitting $4.11. 3,676,283 shares of the company’s stock were exchanged, compared to its average volume of 1,046,967. EQRx has a 12-month low of $2.63 and a 12-month high of $11.10. The business has a 50 day moving average of $4.18.

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of EQRx in the 1st quarter valued at approximately $13,021,000. Vanguard Group Inc. bought a new position in EQRx during the 1st quarter worth $12,131,000. Tybourne Capital Management HK Ltd. bought a new position in EQRx during the 4th quarter worth $15,596,000. Charles Schwab Investment Management Inc. bought a new position in EQRx during the 1st quarter worth $4,681,000. Finally, Northern Trust Corp boosted its position in EQRx by 708.5% during the 1st quarter. Northern Trust Corp now owns 389,631 shares of the company’s stock worth $1,609,000 after acquiring an additional 341,442 shares during the period. Institutional investors own 69.24% of the company’s stock.

EQRX has been the subject of a number of recent research reports. Cowen initiated coverage on EQRx in a research report on Friday, April 22nd. They set an “outperform” rating for the company. Cowen initiated coverage on EQRx in a research note on Friday, April 22nd. They issued an “outperform” rating on the stock. Finally, Jefferies Financial Group started coverage on EQRx in a research note on Friday, March 18th. They issued a “buy” rating and a $5.60 price target on the stock.

About EQRx (Get Rating)

EQRx, Inc, a pharmaceutical company, engages in developing medicines primarily for the treatment of oncology and immune-inflammatory diseases in the United States. The company's pre-registrational programs in Phase III clinical trial include Aumolertinib, an epidermal growth factor receptor (EGFR) inhibitor for the treatment of patients with EGFR-mutated non-small cell lung cancer (NSCLC); and Sugemalimab, an anti-programmed death-ligand 1 antibody for the treatment of Stage III and Stage IV NSCLC.

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