Rubius Therapeutics, Inc. (NASDAQ:RUBY) is among the top gainers of the stock market today, skyrocketing 3.39% or (0.38 points) to $11.59 from its previous close of $11.21. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 203518 contracts so far this session. RUBY shares had a relatively better volume day versus average trading capacity of 236.04 thousand shares, but with a 70.89 million float and a 0.27% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for RUBY stock indicates that the average analyst price target is $32.33 per share. This means the stock has a potential increase of 178.95% from where the RUBY share price has been trading recently which is between $11.17 and $11.96. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $25.
The shorts are climbing into Rubius Therapeutics, Inc. (RUBY) stock. The latest set of short interest data was released on 31 July 2019, and the numbers show a rise in short interest in RUBY shares. While short interest still represents only 10.75% of RUBY’s float, the number of shares shorted have risen by 342964. The number of shares shorted advanced to 7962563 shares, up from 7619599 shares during the preceding fortnight. With average daily trading volumes at 172346 shares, days to cover decreased to about 61.68667 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Rubius Therapeutics Reports Second Quarter 2019 Financial Results and Operational Progress” and dated August 13, 2019.
During the recent trading session for Rubius Therapeutics, Inc. (NASDAQ:RUBY), the company witnessed their stock drop by $-0.09 over a week and tumble down $-3.29 from the price 20 days ago. When compared to their established 52-week high of $26.9, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/23/18. The recent low of $10.47 stood for a -56.91% since 06/08/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Rubius Therapeutics, Inc., the two-week RSI stands at 36.64. This figure suggests that RUBY stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current RUBY readings is similarly very revealing as it has a stochastic reading of 23.66% at this stage. This figure means that RUBY share price today is being overbought.
Technical chart claims that Rubius Therapeutics, Inc. (RUBY) would settle between $11.72/share to $12.24/share level. However, if the stock price goes below the $10.93 mark, then the market for Rubius Therapeutics, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $10.66 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.26. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at H.C. Wainwright, assumed coverage of RUBY assigning Buy rating, according to their opinion released on June 26. Guggenheim, analysts launched coverage of Rubius Therapeutics, Inc. (NASDAQ:RUBY) stock with a Buy recommendation, according to their flash note issued to investors on May 31. Analysts at Morgan Stanley, made their first call for the equity with a Overweight recommendation, according to a research note that dated back to August 13.
RUBY equity has an average rating of 1.5, with the figure leaning towards a bullish end. 6 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 6 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 6 analysts rated Rubius Therapeutics, Inc. (NASDAQ:RUBY) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.