In yesterday’s Wall Street session, Third Harmonic Bio Inc. (NASDAQ:THRD) shares traded at $4.28, down -0.93% from the previous session.
4 analysts cover Third Harmonic Bio Inc. (NASDAQ:THRD), according to research data. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $39.00 and a low of $3.60, we find $5.00. Given the previous closing price of $4.32, this indicates a potential upside of 15.74 percent. THRD stock price is now -65.14% away from the 50-day moving average and -71.61% away from the 200-day moving average. The market capitalization of the company currently stands at $173.08M.
The stock has received a hold rating from 3 analysts and a buy rating from 1. Brokers who have rated the stock have averaged $15.87 as their price target over the next twelve months.
With the price target reduced from $30 to $3.60, Jefferies Downgraded its rating from Buy to Hold for Third Harmonic Bio Inc. (NASDAQ: THRD). On December 15, 2022, Morgan Stanley Downgraded its previous ‘Overweight’ rating to ‘Equal-Weight’ on the stock keeping its target price maintained at $5, while ‘Jefferies’ rates the stock as ‘Buy’.
In other news, BVF PARTNERS L P/IL, 10% Owner bought 214,063 shares of the company’s stock on Dec 20. The stock was bought for $879,499 at an average price of $4.11. Upon completion of the transaction, the 10% Owner now directly owns 2,332,638 shares in the company, valued at $9.98 million. A total of 3.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in THRD stock. A new stake in Third Harmonic Bio Inc. shares was purchased by ATLAS VENTURE LIFE SCIENCE ADVISORS, LLC during the first quarter worth $46,686,000. ORBIMED ADVISORS LLC invested $24,734,000 in shares of THRD during the first quarter. In the first quarter, BVF INC/IL acquired a new stake in Third Harmonic Bio Inc. valued at approximately $14,988,000. RA CAPITAL MANAGEMENT, L.P. acquired a new stake in THRD for approximately $14,876,000. GENERAL ATLANTIC, L.P. purchased a new stake in THRD valued at around $12,664,000 in the second quarter. In total, there are 8 active investors with 87.50% ownership of the company’s stock.
On Monday morning Third Harmonic Bio Inc. (NASDAQ: THRD) stock kicked off with the opening price of $4.4100. During the past 12 months, Third Harmonic Bio Inc. has had a low of $3.89 and a high of $24.59. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 47.90, and a quick ratio of 47.90. The fifty day moving average price for THRD is $12.2774 and a two-hundred day moving average price translates $15.0965 for the stock.
The latest earnings results from Third Harmonic Bio Inc. (NASDAQ: THRD) was released for Jun, 2022.
Third Harmonic Bio Inc.(THRD) Company Profile
Third Harmonic Bio, Inc., a clinical-stage biopharmaceutical company, focuses on the development of the medicine for the treatment of allergic and inflammatory diseases. It develops THB001, an oral small-molecule KIT inhibitor for the treatment of chronic urticaria, a dermatologic disease driven by mast cell activation that results in red, itchy, painful welts, or hives, as well as for airway and gastrointestinal tract indications. The company was formerly known as Project IGE, Inc. and changed its name to Third Harmonic Bio, Inc. in June 2019. Third Harmonic Bio, Inc. was founded in 2019 and is headquartered in Cambridge, Massachusetts.