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

JPMorgan Chase & Co. lessened its stake in shares of OptimizeRx Co. (NASDAQ:OPRX) by 93.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,783 shares of the company’s stock after selling 104,750 shares during the quarter. 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 have also made changes to their positions in the business. BNP Paribas Financial Markets raised its holdings in OptimizeRx by 189.2% in the third quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company’s stock valued at $28,000 after acquiring an additional 2,414 shares in the last quarter. Quest Partners LLC grew its position in shares of OptimizeRx by 15,965.6% during the third quarter. Quest Partners LLC now owns 9,800 shares of the company’s stock worth $76,000 after acquiring an additional 9,739 shares during the last quarter. Barclays PLC grew its position in shares of OptimizeRx by 358.5% during the third quarter. Barclays PLC now owns 26,934 shares of the company’s stock worth $208,000 after acquiring an additional 21,060 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of OptimizeRx during the second quarter worth approximately $282,000. Finally, Marshall Wace LLP purchased a new position in shares of OptimizeRx during the second quarter worth approximately $457,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OPRX. Stephens assumed coverage on shares of OptimizeRx in a research report on Friday, December 20th. They issued an “equal weight” rating and a $5.50 price objective on the stock. JMP Securities reduced their target price on shares of OptimizeRx from $16.00 to $8.00 and set a “market outperform” rating on the stock in a report on Thursday, November 14th. Royal Bank of Canada reiterated a “sector perform” rating and set a $6.00 price objective (down from $7.00) on shares of OptimizeRx in a report on Wednesday, January 8th. Roth Mkm reissued a “buy” rating and set a $16.00 target price (down previously from $20.00) on shares of OptimizeRx in a research report on Thursday, November 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of OptimizeRx in a research report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.06.

OptimizeRx Stock Up 3.2 %

OPRX opened at $5.73 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.23 and a current ratio of 3.23. The business has a 50 day moving average price of $5.22 and a 200 day moving average price of $6.63. The firm has a market cap of $105.55 million, a P/E ratio of -4.31 and a beta of 1.36. OptimizeRx Co. has a twelve month low of $3.78 and a twelve month high of $16.65.

Insider Activity

In other OptimizeRx news, CEO William J. Febbo acquired 20,000 shares of OptimizeRx stock in a transaction on Thursday, December 12th. The shares were bought 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 owns 601,253 shares in the company, valued at $3,012,277.53. This trade represents a 3.44 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.10% of the stock is currently owned by company insiders.

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.