JPMorgan Chase & Co. Reduces Stock Position in OptimizeRx Co. (NASDAQ:OPRX)

JPMorgan Chase & Co. reduced its stake in shares of OptimizeRx Co. (NASDAQ:OPRX - Free Report) by 93.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 7,783 shares of the company's stock after selling 104,750 shares during the period. JPMorgan Chase & Co.'s holdings in OptimizeRx were worth $60,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OPRX. BNP Paribas Financial Markets boosted its holdings in shares of OptimizeRx by 189.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company's stock worth $28,000 after purchasing an additional 2,414 shares in the last quarter. Quest Partners LLC boosted its stake in shares of OptimizeRx by 15,965.6% in the 3rd quarter. Quest Partners LLC now owns 9,800 shares of the company's stock valued at $76,000 after purchasing an additional 9,739 shares in the last quarter. Barclays PLC raised its position in OptimizeRx by 358.5% in the 3rd quarter. Barclays PLC now owns 26,934 shares of the company's stock worth $208,000 after purchasing an additional 21,060 shares during the period. Squarepoint Ops LLC bought a new stake in OptimizeRx in the second quarter worth $282,000. Finally, Marshall Wace LLP purchased a new stake in OptimizeRx during the second quarter valued at about $457,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

OptimizeRx Trading Down 2.8 %

OPRX stock traded down $0.16 during trading on Thursday, reaching $5.51. The company had a trading volume of 153,074 shares, compared to its average volume of 157,650. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.23 and a quick ratio of 3.23. OptimizeRx Co. has a 52 week low of $3.78 and a 52 week high of $16.65. The business has a 50 day moving average of $5.24 and a 200 day moving average of $6.59. The company has a market cap of $101.49 million, a P/E ratio of -4.14 and a beta of 1.38.

Insider Transactions at OptimizeRx

In other OptimizeRx news, CEO William J. Febbo acquired 20,000 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $5.01 per share, with a total value of $100,200.00. Following the completion of the purchase, the chief executive officer now directly owns 601,253 shares of the company's stock, valued at approximately $3,012,277.53. The trade was a 3.44 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 6.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. William Blair restated an "outperform" rating on shares of OptimizeRx in a research report on Thursday, November 14th. Barclays decreased their target price on shares of OptimizeRx from $11.00 to $5.00 and set an "equal weight" rating on the stock in a research note on Thursday, November 14th. Roth Mkm reissued a "buy" rating and set a $16.00 price target (down previously from $20.00) on shares of OptimizeRx in a research report on Thursday, November 14th. Royal Bank of Canada restated a "sector perform" rating and issued a $6.00 price objective (down previously from $7.00) on shares of OptimizeRx in a research report on Wednesday, January 8th. Finally, Lake Street Capital reiterated a "buy" rating and set a $11.00 target price on shares of OptimizeRx in a report on Tuesday, December 24th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, OptimizeRx has a consensus rating of "Moderate Buy" and an average price target of $9.06.

OptimizeRx Profile

OptimizeRx Corporation, a digital health technology company, enables care-focused engagement between life sciences organizations, healthcare providers, and patients at critical junctures throughout the patient care journey. It offers various tech-enabled marketing solutions through its Artificial Intelligence-generated Dynamic Audience and Activation Platform, which enables customers to execute traditional marketing campaigns on its proprietary digital point-of-care network, as well as dynamic marketing campaigns that optimize audiences in real time to increase the value of treatment information for healthcare professionals and patients in response to clinical care events.