Runway Growth Finance (NASDAQ:RWAY) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

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

Runway Growth Finance Stock Up 1.2 %

Shares of Runway Growth Finance stock opened at $11.52 on Wednesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.07. Runway Growth Finance has a 12-month low of $9.87 and a 12-month high of $13.74. The company has a market cap of $430.27 million, a P/E ratio of 11.08 and a beta of 0.58. The company’s fifty day simple moving average is $10.86 and its two-hundred day simple moving average is $10.73.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RWAY. Quarry LP bought a new stake in shares of Runway Growth Finance during the second quarter valued at approximately $53,000. Quest Partners LLC purchased a new position in Runway Growth Finance during the third quarter valued at $92,000. Crewe Advisors LLC purchased a new position in Runway Growth Finance during the third quarter valued at $1,770,000. Quantbot Technologies LP grew its position in shares of Runway Growth Finance by 640.1% in the 3rd quarter. Quantbot Technologies LP now owns 15,593 shares of the company’s stock worth $160,000 after buying an additional 13,486 shares during the period. Finally, Townsquare Capital LLC increased its stake in shares of Runway Growth Finance by 5.2% in the 3rd quarter. Townsquare Capital LLC now owns 58,915 shares of the company’s stock worth $606,000 after acquiring an additional 2,914 shares in the last quarter. 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.