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

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GDRX. American Century Companies Inc. acquired a new stake in GoodRx during the 2nd quarter worth about $18,183,000. XTX Topco Ltd raised its holdings in GoodRx by 42.4% during the second quarter. XTX Topco Ltd now owns 29,560 shares of the company’s stock valued at $231,000 after buying an additional 8,801 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in GoodRx by 5.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 166,142 shares of the company’s stock worth $1,296,000 after purchasing an additional 9,200 shares during the last quarter. Rubric Capital Management LP boosted its holdings in shares of GoodRx by 76.5% during the 2nd quarter. Rubric Capital Management LP now owns 3,736,802 shares of the company’s stock worth $29,147,000 after buying an additional 1,619,748 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of GoodRx during the 2nd quarter worth about $843,000. Institutional investors and hedge funds own 63.77% of the company’s stock.

GoodRx Stock Up 3.4 %

GDRX opened at $4.57 on Monday. GoodRx has a one year low of $4.09 and a one year high of $9.26. The company has a debt-to-equity ratio of 0.70, a quick ratio of 5.48 and a current ratio of 5.48. The stock’s fifty day moving average is $4.59 and its 200-day moving average is $6.43. The company has a market capitalization of $1.74 billion, a PE ratio of -152.33, a P/E/G ratio of 2.30 and a beta of 1.27.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. KeyCorp dropped their target price on shares of GoodRx from $7.00 to $6.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Citigroup dropped their price objective on shares of GoodRx from $7.00 to $6.25 and set a “buy” rating on the stock in a research note on Friday, January 10th. Morgan Stanley decreased their target price on GoodRx from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Mizuho assumed coverage on GoodRx in a research report on Wednesday, December 4th. They set a “neutral” rating and a $5.00 price target on the stock. Finally, Barclays reduced their price objective on GoodRx from $10.00 to $6.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.38.

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.