Shares of PLx Pharma Inc. (NASDAQ:PLXP) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $8.44 and traded as high as $9.39. PLx Pharma shares last traded at $9.25, with a volume of 55,866 shares trading hands.
PLXP has been the subject of several recent research reports. JMP Securities boosted their price target on PLx Pharma from $9.00 to $12.00 and gave the company an “outperform” rating in a research note on Monday, March 1st. Zacks Investment Research cut PLx Pharma from a “buy” rating to a “hold” rating in a research note on Thursday.
The firm has a 50 day simple moving average of $8.43 and a two-hundred day simple moving average of $5.81. The stock has a market capitalization of $190.85 million, a P/E ratio of -7.39 and a beta of 5.03.
In other news, Chairman Michael J. Valentino purchased 25,000 shares of the company’s stock in a transaction dated Friday, March 5th. The stock was bought at an average cost of $8.00 per share, for a total transaction of $200,000.00. Following the purchase, the chairman now owns 486,690 shares of the company’s stock, valued at $3,893,520. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 9.42% of the stock is currently owned by corporate insiders.
A hedge fund recently raised its stake in PLx Pharma stock. Renaissance Technologies LLC grew its position in PLx Pharma Inc. (NASDAQ:PLXP) by 79.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 139,083 shares of the biotechnology company’s stock after acquiring an additional 61,400 shares during the period. Renaissance Technologies LLC owned 1.52% of PLx Pharma worth $768,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 22.46% of the company’s stock.
About PLx Pharma (NASDAQ:PLXP)
PLx Pharma Inc, a late-stage specialty pharmaceutical company, focuses on developing the PLxGuard delivery system to provide various products in the United States. The company's lead product candidates are Vazalore 325 mg and Vazalore 81 mg, which are formulations of aspirin that use the PLxGuard delivery system to reduce novel gastrointestinal (GI) side effects while providing antiplatelet effectiveness for cardiovascular disease prevention and treatment.
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