SVB Leerink Brokers Boost Earnings Estimates for Decibel Therapeutics, Inc. (NASDAQ:DBTX)

Decibel Therapeutics, Inc. (NASDAQ:DBTX – Get Rating) – Stock analysts at SVB Leerink boosted their Q1 2023 earnings per share estimates for shares of Decibel Therapeutics in a research note issued to investors on Wednesday, March 15th. SVB Leerink analyst M. Foroohar now forecasts that the company will post earnings per share of ($0.28) for the quarter, up from their prior forecast of ($0.30). SVB Leerink has a “Market Perform” rating and a $2.00 price objective on the stock. The consensus estimate for Decibel Therapeutics’ current full-year earnings is ($1.85) per share. SVB Leerink also issued estimates for Decibel Therapeutics’ Q2 2023 earnings at ($0.28) EPS, Q3 2023 earnings at ($0.28) EPS, Q4 2023 earnings at ($0.28) EPS, FY2023 earnings at ($1.11) EPS and FY2024 earnings at ($2.72) EPS.

Other equities analysts have also recently issued research reports about the company. HC Wainwright reissued a “buy” rating and set a $23.00 price target on shares of Decibel Therapeutics in a report on Wednesday. SVB Securities downgraded shares of Decibel Therapeutics from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $7.00 to $2.00 in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.80.

Decibel Therapeutics Trading Down 10.5 %

Shares of Decibel Therapeutics stock opened at $3.34 on Friday. Decibel Therapeutics has a 1-year low of $1.61 and a 1-year high of $5.78. The company has a market cap of $83.53 million, a PE ratio of -1.33 and a beta of -0.02. The company has a 50 day moving average of $3.67 and a 200-day moving average of $3.47.

Institutional Trading of Decibel Therapeutics

Large investors have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its position in shares of Decibel Therapeutics by 12.7% during the 4th quarter. Renaissance Technologies LLC now owns 36,394 shares of the company’s stock worth $75,000 after purchasing an additional 4,094 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Decibel Therapeutics by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 115,567 shares of the company’s stock valued at $236,000 after buying an additional 4,170 shares during the last quarter. Bank of America Corp DE increased its position in shares of Decibel Therapeutics by 36.2% during the first quarter. Bank of America Corp DE now owns 18,689 shares of the company’s stock worth $56,000 after acquiring an additional 4,966 shares in the last quarter. Federated Hermes Inc. lifted its position in Decibel Therapeutics by 33.3% in the 2nd quarter. Federated Hermes Inc. now owns 20,000 shares of the company’s stock valued at $84,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Decibel Therapeutics by 1,799.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 11,698 shares of the company’s stock worth $41,000 after purchasing an additional 11,082 shares in the last quarter. 71.88% of the stock is currently owned by institutional investors and hedge funds.

Decibel Therapeutics Company Profile

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Decibel Therapeutics, Inc, a clinical-stage biotechnology company, engages in discovering and developing transformative treatments for hearing and balance disorders. Its product candidates and programs focuses on three areas, such as Gene Therapies for Congenital, Monogenic Hearing Loss designed to restore functional cells within the cochlea to address hearing disorders caused by single gene mutations; Gene Therapies for Hair Cell Regeneration designed to replace lost hair cells within the inner ear to address acquired hearing loss and balance disorders; and Otoprotection Therapeutic in clinical development to prevent hearing loss in cancer patients undergoing chemotherapy with cisplatin.