Eidos Therapeutics Inc (NASDAQ:EIDX) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totalling 3,449,100 shares, a drop of 5.1% from the July 31st total of 3,634,500 shares. Currently, 47.3% of the shares of the stock are sold short. Based on an average daily volume of 190,800 shares, the days-to-cover ratio is presently 18.1 days.
In related news, insider Jonathan C. Fox sold 15,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $40.04, for a total value of $600,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Bridgebio Pharma, Inc. purchased 882,353 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was bought at an average price of $29.90 per share, with a total value of $26,382,354.70. The disclosure for this purchase can be found here. Over the last three months, insiders sold 30,000 shares of company stock valued at $1,171,700. 70.10% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in EIDX. BNP Paribas Arbitrage SA bought a new stake in shares of Eidos Therapeutics during the first quarter worth $80,000. Rhumbline Advisers purchased a new position in shares of Eidos Therapeutics during the first quarter valued at $445,000. American International Group Inc. increased its stake in shares of Eidos Therapeutics by 2.3% during the first quarter. American International Group Inc. now owns 245,362 shares of the company’s stock valued at $5,754,000 after buying an additional 5,586 shares during the period. Fiduciary Trust Co. purchased a new position in shares of Eidos Therapeutics during the first quarter valued at $211,000. Finally, MetLife Investment Advisors LLC purchased a new position in shares of Eidos Therapeutics during the first quarter valued at $198,000. Institutional investors and hedge funds own 32.46% of the company’s stock.
Shares of NASDAQ:EIDX traded down $0.53 on Friday, hitting $45.00. 223,700 shares of the company’s stock were exchanged, compared to its average volume of 152,050. Eidos Therapeutics has a 12 month low of $8.89 and a 12 month high of $46.99. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -24.19 and a beta of -0.99. The business’s 50 day simple moving average is $38.75 and its two-hundred day simple moving average is $29.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 20.89 and a quick ratio of 20.89.
Eidos Therapeutics (NASDAQ:EIDX) last released its earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.01). Equities analysts forecast that Eidos Therapeutics will post -1.7 EPS for the current fiscal year.
EIDX has been the subject of a number of analyst reports. BTIG Research raised their price target on Eidos Therapeutics to $56.00 and gave the stock a “buy” rating in a research report on Friday. BMO Capital Markets raised their price target on Eidos Therapeutics to $50.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Zacks Investment Research upgraded Eidos Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Piper Jaffray Companies initiated coverage on Eidos Therapeutics in a research report on Monday, July 22nd. They set an “overweight” rating and a $55.00 target price for the company. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Eidos Therapeutics has an average rating of “Buy” and an average price target of $37.57.
About Eidos Therapeutics
Eidos Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on developing drugs to treat diseases caused by transthyretin (TTR) amyloidosis (ATTR). It is developing AG10, an orally-administered small molecule designed to stabilize tetrameric TTR, thereby halting at its outset the series of molecular events that give rise to ATTR.
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