CytRx Co. (CYTR) Shares Gap Down to $0.50
CytRx Co. (NASDAQ:CYTR)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $0.51, but opened at $0.50. CytRx shares last traded at $0.48, with a volume of 4,256,595 shares.
Separately, ValuEngine lowered shares of CytRx from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $2.50.
The stock has a 50-day moving average price of $0.62 and a 200 day moving average price of $0.55. The company’s market cap is $79.28 million.
Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in CytRx during the 1st quarter valued at $102,000. LMR Partners LLP acquired a new stake in CytRx during the 2nd quarter valued at $235,000. Renaissance Technologies LLC acquired a new stake in CytRx during the 1st quarter valued at $264,000. Goldman Sachs Group Inc. lifted its holdings in CytRx by 795.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 703,465 shares of the biotechnology company’s stock valued at $441,000 after purchasing an additional 624,863 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in CytRx by 53.9% during the 2nd quarter. Vanguard Group Inc. now owns 4,823,123 shares of the biotechnology company’s stock valued at $3,024,000 after purchasing an additional 1,689,874 shares during the last quarter. 7.84% of the stock is owned by institutional investors and hedge funds.
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CytRx Company Profile
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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