CytRx Co. (NASDAQ:CYTR) saw unusually-high trading volume on Tuesday . Approximately 2,931,699 shares changed hands during mid-day trading, an increase of 644% from the previous session’s volume of 393,833 shares.The stock last traded at $2.27 and had previously closed at $1.83.
Separately, ValuEngine cut shares of CytRx from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st.
The company has a market cap of $62.74, a P/E ratio of -0.80 and a beta of 2.26.
A hedge fund recently raised its stake in CytRx stock. Goldman Sachs Group Inc. boosted its position in CytRx Co. (NASDAQ:CYTR) by 795.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 703,465 shares of the biotechnology company’s stock after acquiring an additional 624,863 shares during the period. Goldman Sachs Group Inc. owned about 0.42% of CytRx worth $441,000 at the end of the most recent reporting period. 44.82% of the stock is owned by institutional investors.
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CytRx Corporation is a biopharmaceutical research and development company specializing in oncology. The Company is focused on the clinical development of aldoxorubicin, its modified version of the chemotherapeutic agent, doxorubicin. It is engaged in Phase III trials for aldoxorubicin as a therapy for patients with soft tissue sarcoma (STS) whose tumors have progressed after treatment with chemotherapy.
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