Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Third Harmonic Bio Inc shares valued at $14,300,000 were sold by BVF PARTNERS L P/IL on Oct 29 ’24. At $14.30 per share, BVF PARTNERS L P/IL sold 1,000,000 shares. The insider’s holdings dropped to 176,692 shares worth approximately $2.46 million following the completion of this transaction.
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Also, Conner Edward R. sold 2,673 shares, netting a total of over 40,095 in proceeds. Following the sale of shares at $15.00 each, the insider now holds 0 shares.
Before that, EDWARD CONNER had added 4,790 shares to its account. In a trade valued at $62,988, the Officer bought Third Harmonic Bio Inc shares for $13.15 each.
As published in a research note from Morgan Stanley on August 09, 2024, Third Harmonic Bio Inc [THRD] has been rated up from an Equal-weight to an Overweight and the price target has been revised to $20 from $12. Analysts at Stifel started covering the stock with ‘”a Buy”‘ outlook in a report released in mid June. As of June 07, 2024, Raymond James has initiated its “an Outperform” rating for THRD. Earlier on December 16, 2022, Jefferies downgraded its rating. Their new recommendation was “a Hold” for THRD stock which previously was a “a Buy”.
Analyzing THRD Stock Performance
During the last five days, there has been a surge of approximately 1.02%. Over the course of the year, Third Harmonic Bio Inc shares have jumped approximately 26.98%. Shares of the company reached a 52-week high of $16.94 on 05/21/24 and a 52-week low of $8.07 on 02/02/24. A 50-day SMA is recorded $13.07, while a 200-day SMA reached $11.83. Nevertheless, trading volume fell to 1.12 million shares from 0.13 million shares the previous day.
Support And Resistance Levels for Third Harmonic Bio Inc (THRD)
According to the 24-hour chart, there is a support level at 13.23, which, if violated, would cause prices to drop to 12.52. In the upper region, resistance lies at 14.47. The next price resistance is at 15.00. RSI (Relative Strength Index) is 54.76 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.29, which suggests the price will decrease in the coming days. Percent R is at 32.33%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
