Medicenna Therapeutics financial statements provide useful quarterly and yearly information to potential Medicenna Therapeutics Corp investors about the company's current and past financial position, as well as its overall management performance and changes in financial position over time. Historical trend examination of various income statement and balance sheet accounts found on Medicenna Therapeutics financial statements helps investors assess Medicenna Therapeutics' valuation, profitability, and current liquidity needs. Key fundamental drivers impacting Medicenna Therapeutics' valuation are summarized below:
Market Capitalization
134.4 M
Earnings Share
(0.38)
We have found one hundred twenty available fundamental ratios for Medicenna Therapeutics, which can be analyzed and compared to other ratios and to its peers in the industry. Self-guided Investors are advised to check Medicenna Therapeutics' last-minute fundamentals against the trend between 2010 and 2024 to make sure the company can sustain itself down the road. As of the 4th of December 2024, Market Cap is likely to grow to about 68.4 M, while Enterprise Value is likely to drop about 20 M.
Medicenna Therapeutics investors utilize fundamental indicators, such as revenue or net income, to predict how Medicenna Stock might perform in the future. Analyzing these trends over time helps investors make informed market timing decisions. For further insights, please visit our fundamental analysis page.
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Medicenna Therapeutics position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Medicenna Therapeutics will appreciate offsetting losses from the drop in the long position's value.
The ability to find closely correlated positions to Medicenna Therapeutics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Medicenna Therapeutics when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Medicenna Therapeutics - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Medicenna Therapeutics Corp to buy it.
The correlation of Medicenna Therapeutics is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Medicenna Therapeutics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Medicenna Therapeutics moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Medicenna Therapeutics can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Medicenna Therapeutics financial ratios help investors to determine whether Medicenna Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Medicenna with respect to the benefits of owning Medicenna Therapeutics security.