Wells Fargo & Company Issues Positive Forecast for Runway Growth Finance (NASDAQ:RWAY) Stock Price

Runway Growth Finance (NASDAQ:RWAY) had its price objective lifted by stock analysts at Wells Fargo & Company from $11.00 to $12.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 4.48% from the company’s current price.

Runway Growth Finance Price Performance

RWAY stock traded down $0.06 during mid-day trading on Wednesday, hitting $11.49. The company had a trading volume of 19,227 shares, compared to its average volume of 220,431. The company has a 50-day moving average price of $10.82 and a 200 day moving average price of $10.72. Runway Growth Finance has a 12-month low of $9.87 and a 12-month high of $13.74. The company has a market capitalization of $428.96 million, a price-to-earnings ratio of 11.04 and a beta of 0.58. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 1.07.

Institutional Trading of Runway Growth Finance

Institutional investors and hedge funds have recently made changes to their positions in the business. Crewe Advisors LLC purchased a new position in Runway Growth Finance during the third quarter valued at approximately $1,770,000. Confluence Investment Management LLC acquired a new position in shares of Runway Growth Finance during the fourth quarter worth $916,000. HighTower Advisors LLC boosted its holdings in Runway Growth Finance by 5.8% in the third quarter. HighTower Advisors LLC now owns 1,336,053 shares of the company’s stock worth $13,747,000 after acquiring an additional 73,200 shares in the last quarter. HTLF Bank boosted its stake in Runway Growth Finance by 135.7% in the 4th quarter. HTLF Bank now owns 88,720 shares of the company’s stock worth $972,000 after purchasing an additional 51,071 shares in the last quarter. Finally, Round Rock Advisors LLC purchased a new stake in Runway Growth Finance during the 4th quarter valued at about $386,000. 64.61% of the stock is currently owned by institutional investors.

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.