Eidos Therapeutics (NASDAQ:EIDX) Shares Up 7.1%

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Eidos Therapeutics Inc (NASDAQ:EIDX)’s share price shot up 7.1% during mid-day trading on Thursday . The stock traded as high as $45.46 and last traded at $45.20, 178,223 shares were traded during trading. An increase of 15% from the average session volume of 155,103 shares. The stock had previously closed at $42.20.

Several research firms recently issued reports on EIDX. BTIG Research set a $56.00 price target on shares of Eidos Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, October 15th. ValuEngine downgraded shares of Eidos Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Barclays downgraded shares of Eidos Therapeutics from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $37.00 to $45.00 in a research note on Friday, November 1st. Zacks Investment Research downgraded shares of Eidos Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, BMO Capital Markets lifted their price target on shares of Eidos Therapeutics to $50.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $45.63.

The company’s 50-day moving average price is $40.41 and its two-hundred day moving average price is $35.87. The company has a market cap of $1.68 billion, a P/E ratio of -24.30 and a beta of -0.94. The company has a current ratio of 17.00, a quick ratio of 17.00 and a debt-to-equity ratio of 0.03.

Eidos Therapeutics (NASDAQ:EIDX) last released its earnings results on Thursday, October 31st. The company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.48. The company had revenue of $26.69 million during the quarter. As a group, analysts anticipate that Eidos Therapeutics Inc will post -1.27 earnings per share for the current year.

In other news, insider Jonathan C. Fox sold 5,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $35.48, for a total value of $177,400.00. Also, insider Uma Sinha sold 2,500 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $38.41, for a total transaction of $96,025.00. Insiders sold a total of 12,500 shares of company stock valued at $502,125 in the last three months. Insiders own 70.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cormorant Asset Management LP increased its position in shares of Eidos Therapeutics by 8.7% in the 2nd quarter. Cormorant Asset Management LP now owns 551,921 shares of the company’s stock worth $17,154,000 after purchasing an additional 44,357 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Eidos Therapeutics by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 376,178 shares of the company’s stock worth $11,692,000 after purchasing an additional 11,857 shares during the last quarter. Northern Trust Corp increased its position in shares of Eidos Therapeutics by 1.5% in the 2nd quarter. Northern Trust Corp now owns 184,115 shares of the company’s stock worth $5,723,000 after purchasing an additional 2,647 shares during the last quarter. Alps Advisors Inc. bought a new stake in shares of Eidos Therapeutics in the 2nd quarter worth about $2,395,000. Finally, Bank of America Corp DE increased its position in shares of Eidos Therapeutics by 1,868.6% in the 2nd quarter. Bank of America Corp DE now owns 65,888 shares of the company’s stock worth $2,047,000 after purchasing an additional 62,541 shares during the last quarter. 31.77% of the stock is owned by institutional investors.

About Eidos Therapeutics (NASDAQ:EIDX)

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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