CytRx Corporation (CYTR) Shares Down 3%
Shares of CytRx Corporation (NASDAQ:CYTR) fell 3% during trading on Monday . The company traded as low as $0.31 and last traded at $0.33. 820,095 shares traded hands during trading, a decline of 82% from the average session volume of 4,437,360 shares. The stock had previously closed at $0.34.
Separately, ValuEngine upgraded CytRx Corporation from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 13th.
The company’s market capitalization is $54.57 million. The stock’s 50 day moving average is $0.41 and its 200-day moving average is $0.55.
A number of hedge funds have recently modified their holdings of CYTR. SG Americas Securities LLC purchased a new position in CytRx Corporation in the 1st quarter worth $102,000. Renaissance Technologies LLC purchased a new position in CytRx Corporation in the 1st quarter worth $264,000. LMR Partners LLP purchased a new position in CytRx Corporation in the 2nd quarter worth $235,000. Vanguard Group Inc. raised its stake in CytRx Corporation by 53.9% in the 2nd quarter. Vanguard Group Inc. now owns 4,823,123 shares of the biotechnology company’s stock worth $3,024,000 after acquiring an additional 1,689,874 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in CytRx Corporation by 795.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 703,465 shares of the biotechnology company’s stock worth $441,000 after acquiring an additional 624,863 shares during the last quarter. Institutional investors own 7.83% of the company’s stock.
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CytRx Corporation 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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