The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. DICE Therapeutics Inc. shares valued at $59,860,000 were purchased by RA CAPITAL MANAGEMENT, L.P. on Oct 17. At $36.50 per share, RA CAPITAL MANAGEMENT, L.P. acquired 1,640,000 shares. The insider’s holdings grew to 6,848,911 shares worth approximately $200.19 million following the completion of this transaction.
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As published in their initiating research note from Guggenheim on November 15, 2022, DICE Therapeutics Inc. [DICE] has been a Buy and the price target has been revised to $65. This represents a 55.03% premium over Wednesday’s closing price. Analysts at Cantor Fitzgerald started covering the stock with ‘”an Overweight”‘ outlook in a report released in mid September. As of September 07, 2022, Stifel has initiated its “Buy” rating for DICE. Earlier on July 18, 2022, H.C. Wainwright initiated its rating. Their recommendation was “a Buy” for DICE stock.
Analyzing DICE Stock Performance
On Wednesday, DICE Therapeutics Inc. [NASDAQ: DICE] plunged -0.81% to $29.23. The stock’s lowest price that day was $28.43, but it reached a high of $30.08 in the same session. During the last five days, there has been a drop of approximately -0.51%. Over the course of the year, DICE Therapeutics Inc. shares have dropped approximately -6.31%. Shares of the company reached a 52-week high of $33.22 on 01/30/23 and a 52-week low of $27.55 on 02/13/23. A 50-day SMA is recorded $30.89, while a 200-day SMA reached $24.36. Nevertheless, trading volume fell to 0.55 million shares from 0.62 million shares the previous day.
Support And Resistance Levels for DICE Therapeutics Inc. (DICE)
According to the 24-hour chart, there is a support level at 28.41, which, if violated, would cause prices to drop to 27.60. In the upper region, resistance lies at 30.06. The next price resistance is at 30.90. RSI (Relative Strength Index) is 43.58 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.13, which suggests the price will decrease in the coming days. Percent R is at 65.00%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is DICE Therapeutics Inc. subject to short interest?
Stocks of DICE Therapeutics Inc. saw a sharp rise in short interest on Jan 12, 2023 jumping by 0.89 million shares to 5.28 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 4.39 million shares. A jump of 16.86% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 11.04 of the overall float, the days-to-cover ratio (short ratio) jumped to 11.04.
Which companies own the most shares of DICE Therapeutics Inc. (DICE)?
According to RA Capital Management LP filings, the company currently owns 6,848,911 shares, which is about 14.37% of the total DICE shares outstanding. The investor’s shares have appreciated by 1,640,000 from its previous 13-F filing of 5208911.0 shares. With the completion of the buy transaction, Fidelity Management & Research Co’s stake is now worth $145,079,484. T. Rowe Price Associates, Inc. acquire a 26.10% interest valued at $102.3 million while BlackRock Fund Advisors purchased a 1,194,955 stake. A total of 1,450,555 shares of DICE Therapeutics Inc. were bought by Avoro Capital Advisor LLC during the quarter, and -18,087 were sold by Driehaus Capital Management LLC. In its current portfolio, The Vanguard Group, Inc. holds 1,851,957 shares valued at $58.84 million.
In terms of DICE Therapeutics Inc. share price expectations, FactSet research, analysts set an average price target of $60.86 in the next 12 months, up nearly 103.6% from the previous closing price of $29.47. Analysts anticipate DICE Therapeutics Inc. stock to reach $77.00 by 2023, with the lowest price target being $36.00. In spite of this, 7 analysts ranked DICE Therapeutics Inc. stock as a Buy at the end of 2023. On October 11, 2021, SVB Leerink assigned a price target of “an Outperform” to the stock and initiated coverage with a $46.