EQRx (NASDAQ:EQRX) Sees Unusually-High Trading Volume

EQRx, Inc. (NASDAQ:EQRX) saw strong trading volume on Friday . 13,359,831 shares changed hands during trading, an increase of 314% from the previous session’s volume of 3,226,270 shares.The stock last traded at $2.19 and had previously closed at $2.24.

EQRx Stock Performance

The stock has a market cap of $1.11 billion, a PE ratio of -4.13 and a beta of 0.51. The business has a 50-day moving average of $2.11 and a 200 day moving average of $1.95.

EQRx (NASDAQ:EQRX) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). Equities analysts expect that EQRx, Inc. will post -0.62 EPS for the current fiscal year.

Institutional Trading of EQRx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in EQRx by 804.3% during the 3rd quarter. Royal Bank of Canada now owns 6,972 shares of the company’s stock worth $34,000 after purchasing an additional 6,201 shares in the last quarter. Federated Hermes Inc. acquired a new stake in EQRx in the 3rd quarter worth about $35,000. Prudential Financial Inc. acquired a new stake in EQRx in the 2nd quarter worth about $53,000. CIBC Asset Management Inc acquired a new stake in EQRx in the 4th quarter worth about $33,000. Finally, Gladius Capital Management LP acquired a new stake in EQRx in the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 72.33% of the company’s stock.

About EQRx

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 clinical programs in pipeline includes Aumolertinib, an epidermal growth factor receptor (EGFR) tyrosine kinase inhibitor for the treatment of patients with EGFR-mutated non-small cell lung cancer (NSCLC); Sugemalimab, is an anti-programmed cell death-ligand 1 (PD-L1) monoclonal antibody that treats stage III and stage IV NSCLC; and Lerociclib, a small molecule cyclin-dependent kinase 4/6 inhibitor, which has completed Phase 1 clinical trial in patients with metastatic breast cancer, as well as in combination with other targeted therapies for the treatment of patients with hormone receptor positive (HR+)/human epidermal growth factor receptor 2 negative (HER2-) metastatic breast cancer.