Pictet Asset Management SA Invests $49,000 in EQRx, Inc. (NASDAQ:EQRX)

Pictet Asset Management SA acquired a new position in EQRx, Inc. (NASDAQ:EQRXGet Rating) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,421 shares of the company’s stock, valued at approximately $49,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Virtu Financial LLC acquired a new stake in shares of EQRx in the first quarter worth $64,000. ProShare Advisors LLC acquired a new stake in shares of EQRx in the second quarter worth $72,000. Prelude Capital Management LLC acquired a new stake in shares of EQRx in the first quarter worth $79,000. Mirabella Financial Services LLP acquired a new stake in shares of EQRx in the first quarter worth $81,000. Finally, Penserra Capital Management LLC lifted its stake in shares of EQRx by 69.8% in the first quarter. Penserra Capital Management LLC now owns 20,588 shares of the company’s stock worth $85,000 after buying an additional 8,462 shares during the last quarter. 80.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EQRX. The Goldman Sachs Group cut shares of EQRx from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $8.00 to $5.00 in a research note on Friday, November 11th. Jefferies Financial Group cut shares of EQRx from a “buy” rating to a “hold” rating and cut their target price for the company from $5.60 to $3.20 in a research note on Friday, November 11th. Finally, JPMorgan Chase & Co. cut shares of EQRx from a “neutral” rating to an “underweight” rating in a research note on Monday, November 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.57.

EQRx Trading Up 1.7 %

NASDAQ:EQRX opened at $3.49 on Friday. EQRx, Inc. has a one year low of $2.63 and a one year high of $9.99. The company has a fifty day moving average price of $4.71 and a 200 day moving average price of $4.81.

EQRx (NASDAQ:EQRXGet Rating) last announced its quarterly earnings results on Thursday, November 10th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.03. On average, equities analysts expect that EQRx, Inc. will post -0.71 EPS for the current fiscal year.

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.

See Also

Want to see what other hedge funds are holding EQRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EQRx, Inc. (NASDAQ:EQRXGet Rating).

Institutional Ownership by Quarter for EQRx (NASDAQ:EQRX)

Receive News & Ratings for EQRx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQRx and related companies with MarketBeat.com's FREE daily email newsletter.