JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Runway Growth Finance (NASDAQ:RWAY) Stock

Runway Growth Finance (NASDAQ:RWAY) had its target price boosted by investment analysts at JPMorgan Chase & Co. from $10.50 to $11.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 3.42% from the stock’s previous close.

Separately, Wells Fargo & Company boosted their target price on Runway Growth Finance from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.04.

Runway Growth Finance Stock Performance

Shares of RWAY stock opened at $11.39 on Monday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.36 and a current ratio of 0.36. Runway Growth Finance has a fifty-two week low of $9.87 and a fifty-two week high of $13.74. The company has a market capitalization of $425.42 million, a P/E ratio of 10.95 and a beta of 0.59. The stock has a 50 day moving average price of $10.93 and a two-hundred day moving average price of $10.71.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RWAY. Quest Partners LLC bought a new stake in Runway Growth Finance during the 3rd quarter valued at about $92,000. Perigon Wealth Management LLC bought a new position in Runway Growth Finance in the fourth quarter valued at about $114,000. Quantbot Technologies LP grew its position in shares of Runway Growth Finance by 640.1% during the 3rd quarter. Quantbot Technologies LP now owns 15,593 shares of the company’s stock valued at $160,000 after acquiring an additional 13,486 shares during the period. Verition Fund Management LLC bought a new position in shares of Runway Growth Finance during the 3rd quarter valued at approximately $165,000. Finally, XTX Topco Ltd purchased a new stake in Runway Growth Finance in the 3rd quarter worth $226,000. Institutional investors own 64.61% of the company’s stock.

Runway Growth Finance Company Profile

Runway Growth Finance Corp. is a business development company specializing investments in senior-secured loans to late stage and growth companies. It prefers to make investments in companies engaged in the technology, life sciences, healthcare and information services, business services and select consumer services and products sectors.