CytRx (NASDAQ:CYTR) was downgraded by equities researchers at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Friday.

CytRx (NASDAQ CYTR) opened at $2.10 on Friday. CytRx has a 52 week low of $1.71 and a 52 week high of $6.00.

A number of institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its stake in CytRx 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 purchasing an additional 624,863 shares during the period. Vanguard Group Inc. lifted its position in CytRx 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 buying an additional 1,689,874 shares in the last quarter. LMR Partners LLP purchased a new stake in CytRx in the 2nd quarter worth approximately $235,000. Finally, Renaissance Technologies LLC purchased a new stake in CytRx in the 1st quarter worth approximately $264,000. 44.97% of the stock is owned by hedge funds and other institutional investors.

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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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