GoodRx (NASDAQ:GDRX) Sees Unusually-High Trading Volume – Still a Buy?

GoodRx Holdings, Inc. (NASDAQ:GDRX) shares saw unusually-high trading volume on Monday . Approximately 1,694,854 shares changed hands during mid-day trading, an increase of 18% from the previous session’s volume of 1,433,816 shares.The stock last traded at $4.34 and had previously closed at $4.15.

Analysts Set New Price Targets

A number of research firms recently issued reports on GDRX. Royal Bank of Canada reissued an “outperform” rating and set a $10.00 price objective on shares of GoodRx in a research report on Friday, August 16th. Barclays lowered their price target on GoodRx from $10.00 to $6.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. 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 research report on Wednesday, November 13th. Raymond James raised shares of GoodRx from an “outperform” rating to a “strong-buy” rating and set a $10.00 target price for the company in a research report on Friday, August 9th. Finally, UBS Group cut their price target on shares of GoodRx from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, GoodRx currently has a consensus rating of “Moderate Buy” and an average price target of $8.86.

GoodRx Stock Performance

The firm has a 50 day moving average price of $6.41 and a two-hundred day moving average price of $7.38. The company has a debt-to-equity ratio of 0.70, a quick ratio of 5.48 and a current ratio of 5.48. The company has a market capitalization of $1.62 billion, a P/E ratio of -141.33, a price-to-earnings-growth ratio of 3.02 and a beta of 1.39.

Insider Transactions at GoodRx

In other news, major shareholder Equity Vii L.P. Spectrum sold 10,677 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $7.86, for a total transaction of $83,921.22. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.17% of the stock is owned by insiders.

Institutional Trading of GoodRx

Several hedge funds have recently modified their holdings of GDRX. Rubric Capital Management LP raised its position in shares of GoodRx by 25.2% during the third quarter. Rubric Capital Management LP now owns 4,680,028 shares of the company’s stock worth $32,479,000 after acquiring an additional 943,226 shares during the last quarter. Millennium Management LLC raised its holdings in GoodRx by 36.5% during the 2nd quarter. Millennium Management LLC now owns 4,121,939 shares of the company’s stock worth $32,151,000 after purchasing an additional 1,102,758 shares during the last quarter. American Century Companies Inc. acquired a new position in GoodRx during the 2nd quarter valued at about $18,183,000. Point72 Asset Management L.P. bought a new position in shares of GoodRx in the 3rd quarter valued at about $11,295,000. Finally, Geode Capital Management LLC boosted its stake in shares of GoodRx by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 982,729 shares of the company’s stock valued at $6,823,000 after purchasing an additional 58,610 shares during the last quarter. 63.77% of the stock is owned by institutional investors.

About GoodRx

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.