GoodRx Holdings, Inc. (NASDAQ:GDRX) Sees Large Drop in Short Interest

GoodRx Holdings, Inc. (NASDAQ:GDRX) was the target of a large decline in short interest in December. As of December 31st, there was short interest totalling 7,470,000 shares, a decline of 5.8% from the December 15th total of 7,930,000 shares. Based on an average trading volume of 1,370,000 shares, the days-to-cover ratio is presently 5.5 days. Approximately 8.6% of the company’s stock are short sold.

Wall Street Analyst Weigh In

GDRX has been the subject of a number of research reports. Morgan Stanley decreased their price objective on GoodRx from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Mizuho initiated coverage on shares of GoodRx in a research note on Wednesday, December 4th. They set a “neutral” rating and a $5.00 price target for the company. Citigroup cut their price objective on shares of GoodRx from $7.00 to $6.25 and set a “buy” rating on the stock in a research report on Friday, January 10th. Barclays reduced their target price on shares of GoodRx from $10.00 to $6.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, KeyCorp lowered their price target on shares of GoodRx from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, GoodRx currently has a consensus rating of “Moderate Buy” and an average price target of $8.38.

Institutional Investors Weigh In On GoodRx

Large investors have recently modified their holdings of the business. nVerses Capital LLC bought a new stake in shares of GoodRx during the 3rd quarter valued at approximately $33,000. EP Wealth Advisors LLC acquired a new stake in GoodRx in the third quarter valued at approximately $73,000. Dark Forest Capital Management LP acquired a new stake in GoodRx in the second quarter valued at approximately $86,000. Sanctuary Advisors LLC bought a new stake in shares of GoodRx during the third quarter worth $85,000. Finally, Deerfield Management Company L.P. Series C acquired a new position in shares of GoodRx during the second quarter worth $173,000. Institutional investors and hedge funds own 63.77% of the company’s stock.

GoodRx Stock Performance

Shares of GoodRx stock opened at $4.57 on Friday. The company has a quick ratio of 5.48, a current ratio of 5.48 and a debt-to-equity ratio of 0.70. The company has a 50 day moving average of $4.59 and a 200-day moving average of $6.45. GoodRx has a 1-year low of $4.09 and a 1-year high of $9.26.

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.