Prana Biotechnology Ltd. (NASDAQ:PRAN) shares dropped 6.5% during mid-day trading on Thursday . The company traded as low as $4.88 and last traded at $4.92, with a volume of 54,724 shares trading hands. The stock had previously closed at $5.26.

Separately, Zacks Investment Research upgraded shares of Prana Biotechnology from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd.

The stock’s market cap is $7.27 million. The stock’s 50-day moving average price is $5.04 and its 200-day moving average price is $4.09.

Prana Biotechnology Limited (Prana) is an Australia-based development stage medical biotechnology Company. The Company is engaged in commercializing research into Alzheimer’s disease, Huntington disease and other major age-related degenerative disorders. The Company’s lead drug candidate, PBT2 is being developed for the treatment of Alzheimer’s and Huntington’s diseases.

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