DICE Therapeutics Inc. (NASDAQ:DICE) marked $25.86 per share on Tuesday, down from a previous closing price of $28.09. While DICE Therapeutics Inc. has underperformed by -7.94%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, DICE rose by 37.48%, with highs and lows ranging from $45.99 to $12.64, whereas the simple moving average fell by -1.21% in the last 200 days.
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On March 31, 2023, Needham started tracking DICE Therapeutics Inc. (NASDAQ: DICE) recommending Buy. A report published by TD Cowen on March 01, 2023, Initiated its previous ‘Outperform’ rating for DICE. Guggenheim Initiated an Buy rating on November 15, 2022, and assigned a price target of $65. Cantor Fitzgerald initiated its ‘Overweight’ rating for DICE, as published in its report on September 14, 2022. Stifel’s report from September 07, 2022 suggests a price prediction of $37 for DICE shares, giving the stock a ‘Buy’ rating. H.C. Wainwright also rated the stock as ‘Buy’.
Analysis of DICE Therapeutics Inc. (DICE)
In order to gain a clear picture of DICE Therapeutics Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -23.90% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 38.10, 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.
An average volume of 483.12K can be a very valuable indicator of volatility for DICE stock. On a monthly basis, the volatility of the stock is set at 7.53%, whereas on a weekly basis, it is put at 6.58%, with a loss of -12.34% over the past seven days. Furthermore, long-term investors anticipate a median target price of $61.88, showing growth from the present price of $25.86, which can serve as yet another indication of whether DICE is worth investing in or should be passed over.
How Do You Analyze DICE Therapeutics Inc. Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. 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 3.33%. 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 79.20% 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 DICE shares?
The recent increase in stakes in DICE appears to be a result of several institutional investors and hedge funds increasing their positions. RA Capital Management LP’s position in DICE has increased by 19.29% in the first quarter. The company now owns 8,169,760 shares of the stock, with a value of $243.79 million, following the purchase of 1,320,849 additional shares during the last quarter. Fidelity Management & Research Co made another increased to its shares in DICE during the first quarter, upping its stake by 57.35%. During the last quarter, the company picked up 1,664,339 additional shares for a total stake of worth $136.27 million, bringing number of shares owned by the company to 4,566,556.
During the first quarter, T. Rowe Price Associates, Inc. added a 666,503 position in DICE. BlackRock Fund Advisors purchased an additional 1.19 million shares in the last quarter, increasing its holdings by 82.63%, now holding 2.64 million shares worth $78.81 million. At the end of the first quarter, Avoro Capital Advisor LLC increased its DICE holdings by 134.94% and now holds 2.53 million DICE shares valued at $75.36 million with the added 1.45 million shares during the period. DICE shares are owned by institutional investors to the tune of 79.20% at present.
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