Runway Growth Finance (NASDAQ:RWAY) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Runway Growth Finance (NASDAQ:RWAY) had its target price lifted by JPMorgan Chase & Co. from $10.50 to $11.00 in a research note released on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

Separately, Wells Fargo & Company upped their price target on shares of 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.04.

Runway Growth Finance Stock Performance

Shares of RWAY stock opened at $11.46 on Monday. Runway Growth Finance has a 52 week low of $9.87 and a 52 week high of $13.74. The company has a market capitalization of $428.03 million, a price-to-earnings ratio of 11.02 and a beta of 0.59. The company has a 50-day simple moving average of $10.89 and a 200 day simple moving average of $10.71. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.36 and a current ratio of 0.36.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RWAY. HighTower Advisors LLC raised its holdings in Runway Growth Finance by 5.8% in the 3rd quarter. HighTower Advisors LLC now owns 1,336,053 shares of the company’s stock valued at $13,747,000 after buying an additional 73,200 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of Runway Growth Finance in the 3rd quarter valued at $1,770,000. Confluence Investment Management LLC acquired a new position in shares of Runway Growth Finance during the fourth quarter valued at about $916,000. Round Rock Advisors LLC bought a new position in Runway Growth Finance in the fourth quarter worth approximately $386,000. Finally, Townsquare Capital LLC grew its position in Runway Growth Finance by 5.2% in the 3rd quarter. Townsquare Capital LLC now owns 58,915 shares of the company’s stock valued at $606,000 after purchasing an additional 2,914 shares during the period. Institutional investors and hedge funds own 64.61% of the company’s stock.

About Runway Growth Finance

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.