GoodRx (NASDAQ:GDRX) Sees Unusually-High Trading Volume – Here’s What Happened

GoodRx Holdings, Inc. (NASDAQ:GDRX) shares saw an uptick in trading volume on Friday . 670,223 shares were traded during mid-day trading, an increase of 41% from the previous session’s volume of 476,006 shares.The stock last traded at $4.45 and had previously closed at $4.56.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on GDRX shares. Morgan Stanley dropped their target price on GoodRx from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Citigroup cut their price objective on shares of GoodRx from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Barclays lowered their target price on shares of GoodRx from $10.00 to $6.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Finally, Mizuho assumed coverage on shares of GoodRx in a research note on Wednesday, December 4th. They set a “neutral” rating and a $5.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, GoodRx has a consensus rating of “Moderate Buy” and an average price target of $8.64.

GoodRx Stock Performance

The company has a quick ratio of 5.48, a current ratio of 5.48 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average of $4.90 and a two-hundred day moving average of $6.68. The company has a market capitalization of $1.70 billion, a PE ratio of -148.33, a PEG ratio of 3.43 and a beta of 1.29.

Institutional Trading of GoodRx

Hedge funds have recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new position in GoodRx in the third quarter valued at $33,000. Plato Investment Management Ltd purchased a new position in shares of GoodRx in the 2nd quarter valued at about $43,000. EP Wealth Advisors LLC acquired a new position in GoodRx in the 3rd quarter worth about $73,000. Dark Forest Capital Management LP purchased a new position in GoodRx during the second quarter worth approximately $86,000. Finally, Sanctuary Advisors LLC acquired a new stake in GoodRx in the third quarter valued at approximately $85,000. 63.77% of the stock is owned by hedge funds and other institutional investors.

GoodRx Company Profile

GoodRx Holdings, Inc, together with its subsidiaries, offers information and tools that enable consumers to compare prices and save on their prescription drug purchases in the United States. The company operates a price comparison platform that provides consumers with curated, geographically relevant prescription pricing, and access to negotiated prices.