GoodRx (NASDAQ:GDRX) Sees Strong Trading Volume – Here’s Why

GoodRx Holdings, Inc. (NASDAQ:GDRX) shares saw an uptick in trading volume on Friday . 670,223 shares changed hands during trading, an increase of 41% from the previous session’s volume of 476,006 shares.The stock last traded at $4.45 and had previously closed at $4.56.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GDRX. Citigroup decreased their price target on shares of GoodRx from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Mizuho assumed coverage on shares of GoodRx in a report on Wednesday, December 4th. They set a “neutral” rating and a $5.00 price target for the company. Barclays decreased their price target on GoodRx from $10.00 to $6.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, Morgan Stanley lowered their target price on GoodRx from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, GoodRx presently has an average rating of “Moderate Buy” and a consensus price target of $8.64.

GoodRx Price Performance

The firm has a market cap of $1.68 billion, a P/E ratio of -147.33, a price-to-earnings-growth ratio of 3.54 and a beta of 1.29. The company has a debt-to-equity ratio of 0.70, a current ratio of 5.48 and a quick ratio of 5.48. The firm’s 50 day moving average is $4.94 and its 200 day moving average is $6.72.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Rubric Capital Management LP increased its holdings in GoodRx by 25.2% in the 3rd 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 in the last quarter. Millennium Management LLC boosted its stake in shares of GoodRx by 36.5% in the second quarter. Millennium Management LLC now owns 4,121,939 shares of the company’s stock worth $32,151,000 after acquiring an additional 1,102,758 shares during the period. American Century Companies Inc. purchased a new stake in GoodRx during the second quarter valued at $18,183,000. Point72 Asset Management L.P. purchased a new position in shares of GoodRx in the 3rd quarter worth $11,295,000. Finally, Geode Capital Management LLC increased its holdings 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 worth $6,823,000 after buying an additional 58,610 shares during the last quarter. 63.77% of the stock is owned by hedge funds and other 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.