Short Interest in GoodRx Holdings, Inc. (NASDAQ:GDRX) Drops By 13.9%

GoodRx Holdings, Inc. (NASDAQ:GDRX) was the target of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 7,480,000 shares, a decline of 13.9% from the October 31st total of 8,690,000 shares. Approximately 8.7% of the company’s stock are sold short. Based on an average daily volume of 1,370,000 shares, the short-interest ratio is currently 5.5 days.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GDRX. UBS Group dropped their target price on shares of GoodRx from $9.00 to $8.50 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Raymond James raised 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. Barclays dropped their price target on GoodRx from $10.00 to $6.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Citigroup reduced their price objective on GoodRx from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $10.00 target price on shares of GoodRx in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, GoodRx has an average rating of “Moderate Buy” and an average target price of $8.86.

Hedge Funds Weigh In On GoodRx

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Liontrust Investment Partners LLP purchased a new position in GoodRx in the second quarter valued at about $520,000. Raymond James & Associates increased its stake in GoodRx by 212.6% in the 3rd quarter. Raymond James & Associates now owns 394,006 shares of the company’s stock valued at $2,734,000 after purchasing an additional 267,951 shares in the last quarter. Legato Capital Management LLC acquired a new position in GoodRx during the second quarter worth $805,000. Marshall Wace LLP purchased a new stake in GoodRx during the second quarter worth $843,000. Finally, Dynamic Technology Lab Private Ltd grew its holdings in GoodRx by 260.7% in the third quarter. Dynamic Technology Lab Private Ltd now owns 44,419 shares of the company’s stock valued at $308,000 after purchasing an additional 32,104 shares during the last quarter. 63.77% of the stock is owned by institutional investors and hedge funds.

GoodRx Stock Performance

Shares of GDRX stock opened at $4.95 on Tuesday. The company has a current ratio of 5.48, a quick ratio of 5.48 and a debt-to-equity ratio of 0.70. GoodRx has a 12-month low of $4.09 and a 12-month high of $9.26. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -165.00, a price-to-earnings-growth ratio of 3.52 and a beta of 1.39. The stock has a 50 day simple moving average of $5.98 and a 200-day simple moving average of $7.25.

GoodRx Company Profile

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.