Metacrine, Inc. (NASDAQ:MTCR – Get Rating)'s share price shot up 9.5% on Wednesday . The company traded as high as $0.50 and last traded at $0.48. 1,115,206 shares were traded during trading, an increase of 455% from the average session volume of 200,925 shares. The stock had previously closed at $0.44.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright reaffirmed a "neutral" rating on shares of Metacrine in a report on Wednesday, November 16th.
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Metacrine Trading Up 9.5 %
The firm has a market capitalization of $20.60 million, a PE ratio of -0.47 and a beta of -0.92. The company has a quick ratio of 12.15, a current ratio of 12.15 and a debt-to-equity ratio of 0.34. The stock's fifty day simple moving average is $0.42 and its 200 day simple moving average is $0.45.
Metacrine (NASDAQ:MTCR – Get Rating) last announced its earnings results on Monday, November 14th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.02). On average, sell-side analysts predict that Metacrine, Inc. will post -0.62 earnings per share for the current year.
Insider Buying and Selling at Metacrine
In other news, major shareholder Braden Michael Leonard acquired 123,954 shares of Metacrine stock in a transaction dated Monday, November 7th. The stock was purchased at an average cost of $0.42 per share, with a total value of $52,060.68. Following the completion of the purchase, the insider now directly owns 5,848,649 shares in the company, valued at approximately $2,456,432.58. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders acquired 430,275 shares of company stock valued at $174,191. Insiders own 11.40% of the company's stock.
Institutional Trading of Metacrine
Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its stake in shares of Metacrine by 482.8% in the second quarter. State Street Corp now owns 72,186 shares of the company's stock worth $36,000 after purchasing an additional 59,800 shares in the last quarter. Citadel Advisors LLC grew its stake in Metacrine by 112.5% during the third quarter. Citadel Advisors LLC now owns 136,606 shares of the company's stock valued at $66,000 after acquiring an additional 72,306 shares in the last quarter. Jane Street Group LLC purchased a new position in Metacrine during the third quarter valued at $84,000. Bank of New York Mellon Corp purchased a new position in Metacrine during the first quarter valued at $126,000. Finally, Bank of America Corp DE grew its stake in Metacrine by 10.5% during the first quarter. Bank of America Corp DE now owns 263,340 shares of the company's stock valued at $161,000 after acquiring an additional 24,964 shares in the last quarter. 34.28% of the stock is owned by hedge funds and other institutional investors.
About Metacrine
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Metacrine, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing therapies for patients with gastrointestinal diseases. It is developing MET642, which has completed Phase I clinical trial for the treatment of ulcerative colitis. Metacrine, Inc was incorporated in 2014 and is headquartered in San Diego, California.
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