The share price of Better Therapeutics Inc. (NASDAQ:BTTX) rose to $2.77 per share on Monday from $2.22. While Better Therapeutics Inc. has overperformed by 24.77%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, BTTX fell by -72.13%, with highs and lows ranging from $29.40 to $0.91, whereas the simple moving average fell by -30.67% in the last 200 days.
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On November 24, 2021, Chardan Capital Markets started tracking Better Therapeutics Inc. (NASDAQ: BTTX) recommending Buy. A report published by Cowen on November 10, 2021, Initiated its previous ‘Outperform’ rating for BTTX.
Analysis of Better Therapeutics Inc. (BTTX)
To gain a thorough understanding of Better Therapeutics Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -113.60% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 9.90, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and BTTX is recording an average volume of 7.51M. On a monthly basis, the volatility of the stock is set at 12.32%, whereas on a weekly basis, it is put at 26.08%, with a gain of 69.94% over the past seven days. Furthermore, long-term investors anticipate a median target price of $17.00, showing growth from the present price of $2.77, which can serve as yet another indication of whether BTTX is worth investing in or should be passed over.
How Do You Analyze Better Therapeutics Inc. Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.50%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 14.00% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in BTTX shares?
The recent increase in stakes in BTTX appears to be a result of several institutional investors and hedge funds increasing their positions. Farallon Capital Management LLC’s position in BTTX has decreased by -15.01% in the first quarter. The company now owns 1,147,400 shares of the stock, with a value of $1.79 million, following the sale of -202,600 additional shares during the last quarter. Sectoral Asset Management, Inc. made another decreased to its shares in BTTX during the first quarter, downing its stake by -9.79%. During the last quarter, the company picked up -95,302 additional shares for a total stake of worth $1.37 million, bringing number of shares owned by the company to 878,531.
At the end of the first quarter, Alyeska Investment Group LP decreased its BTTX holdings by -31.16% and now holds 0.24 million BTTX shares valued at $0.37 million with the lessened -0.11 million shares during the period. BTTX shares are owned by institutional investors to the tune of 14.00% at present.