EQRx (NASDAQ:EQRX) Downgraded by Jefferies Financial Group

Jefferies Financial Group cut shares of EQRx (NASDAQ:EQRXGet Rating) from a buy rating to a hold rating in a research note released on Friday, Marketbeat.com reports. The firm currently has $3.20 target price on the stock, down from their previous target price of $5.60.

Separately, JPMorgan Chase & Co. started coverage on EQRx in a report on Tuesday, August 16th. They issued a neutral rating and a $5.50 price target for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $4.57.

EQRx Trading Down 5.7 %

EQRX opened at $3.67 on Friday. The firm’s 50 day moving average is $4.98 and its 200-day moving average is $4.88. EQRx has a 52-week low of $2.63 and a 52-week high of $9.99.

EQRx (NASDAQ:EQRXGet Rating) last issued its quarterly earnings data on Thursday, August 11th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.04. On average, sell-side analysts anticipate that EQRx will post -0.78 EPS for the current year.

Institutional Investors Weigh In On EQRx

Institutional investors have recently modified their holdings of the business. Pictet Asset Management SA bought a new position in EQRx in the second quarter worth about $49,000. Prudential Financial Inc. acquired a new position in EQRx during the 2nd quarter valued at about $53,000. Xponance Inc. bought a new position in EQRx in the 3rd quarter worth about $56,000. AMG National Trust Bank acquired a new stake in shares of EQRx in the third quarter valued at approximately $72,000. Finally, ProShare Advisors LLC bought a new stake in shares of EQRx during the second quarter valued at approximately $72,000. Institutional investors own 80.38% of the company’s 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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