Cubist Systematic Strategies LLC bought a new position in EQRx, Inc. (NASDAQ:EQRX – Get Rating) in the third quarter, HoldingsChannel.com reports. The fund bought 107,958 shares of the company’s stock, valued at approximately $534,000.
A number of other large investors have also added to or reduced their stakes in EQRX. State Street Corp grew its position in EQRx by 764.5% in the 2nd quarter. State Street Corp now owns 6,481,966 shares of the company’s stock worth $30,400,000 after purchasing an additional 5,732,202 shares during the period. BlackRock Inc. bought a new stake in shares of EQRx during the 1st quarter valued at $13,021,000. Vanguard Group Inc. bought a new stake in shares of EQRx during the 1st quarter valued at $12,131,000. JPMorgan Chase & Co. bought a new stake in shares of EQRx during the 2nd quarter valued at $7,302,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of EQRx during the 1st quarter valued at $4,681,000. Institutional investors own 82.61% of the company’s stock.
Analysts Set New Price Targets
Separately, JPMorgan Chase & Co. downgraded shares of EQRx from a “neutral” rating to an “underweight” rating in a research report on Monday, November 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $4.57.
EQRx Stock Down 3.8 %
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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