Wells Fargo & Company Boosts Runway Growth Finance (NASDAQ:RWAY) Price Target to $12.00

Runway Growth Finance (NASDAQ:RWAY) had its target price lifted by research analysts at Wells Fargo & Company from $11.00 to $12.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 4.17% from the company’s previous close.

Runway Growth Finance Stock Performance

Runway Growth Finance stock opened at $11.52 on Wednesday. Runway Growth Finance has a 1-year low of $9.87 and a 1-year high of $13.74. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $430.27 million, a PE ratio of 11.08 and a beta of 0.58. The firm’s 50 day simple moving average is $10.86 and its 200 day simple moving average is $10.73.

Institutional Trading of Runway Growth Finance

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP bought a new position in shares of Runway Growth Finance in the second quarter worth approximately $53,000. Quest Partners LLC purchased a new position in Runway Growth Finance in the 3rd quarter worth approximately $92,000. Perigon Wealth Management LLC bought a new position in shares of Runway Growth Finance in the 4th quarter worth $114,000. Quantbot Technologies LP raised 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 buying an additional 13,486 shares in the last quarter. Finally, Verition Fund Management LLC bought a new stake in shares of Runway Growth Finance during the 3rd quarter worth $165,000. Hedge funds and other institutional investors 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.