Brickell Biotech (NASDAQ:BBI) Trading Down 12.9%

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Brickell Biotech, Inc. (NASDAQ:BBI) traded down 12.9% on Tuesday . The company traded as low as $1.11 and last traded at $1.21. 3,808,690 shares were traded during trading, a decline of 26% from the average session volume of 5,172,037 shares. The stock had previously closed at $1.39.

Separately, Zacks Investment Research downgraded Brickell Biotech from a “buy” rating to a “hold” rating in a report on Wednesday, January 6th.

The company has a market capitalization of $64.75 million, a P/E ratio of -0.50 and a beta of 0.34. The company has a 50 day moving average of $1.25 and a 200-day moving average of $0.88.

A hedge fund recently raised its stake in Brickell Biotech stock. Renaissance Technologies LLC grew its holdings in shares of Brickell Biotech, Inc. (NASDAQ:BBI) by 42.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 877,986 shares of the company’s stock after purchasing an additional 259,836 shares during the period. Renaissance Technologies LLC owned approximately 1.64% of Brickell Biotech worth $685,000 as of its most recent SEC filing. 5.93% of the stock is owned by institutional investors and hedge funds.

About Brickell Biotech (NASDAQ:BBI)

Brickell Biotech, Inc, a clinical-stage pharmaceutical company, focuses on identifying, developing, and commercializing various prescription therapeutics for the treatment of debilitating skin diseases in the United States. The company's lead product candidate is sofpironium bromide that is in phase 3 clinical trial to treat patients with primary axillary hyperhidrosis.

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