Arecor Therapeutics (LON:AREC) Trading Down 3.9% – Here’s What Happened

Arecor Therapeutics plc (LON:AREC)’s stock price was down 3.9% during mid-day trading on Thursday . The company traded as low as GBX 61 and last traded at GBX 61. 45,533 shares traded hands during mid-day trading, an increase of 122% from the average session volume of 20,513 shares. The stock had previously closed at GBX 63.50.

Arecor Therapeutics Stock Down 3.9%

The firm has a 50 day moving average price of GBX 66.39 and a 200-day moving average price of GBX 73.30. The company has a current ratio of 4.35, a quick ratio of 6.24 and a debt-to-equity ratio of 1.52. The firm has a market cap of £23.03 million, a PE ratio of 30.50 and a beta of -0.18.

Arecor Therapeutics (LON:AREC) last released its earnings results on Monday, April 13th. The company reported GBX 2 earnings per share for the quarter. Arecor Therapeutics had a net margin of 38.74% and a return on equity of 14.26%. The firm had revenue of GBX 171 million for the quarter. Research analysts forecast that Arecor Therapeutics plc will post -0.35 EPS for the current fiscal year.

About Arecor Therapeutics

Arecor Therapeutics plc (AIM: AREC) is a clinical-stage biotech company developing superior therapeutics that can reduce treatment burden and improve outcomes for people living with diabetes, obesity and other cardiometabolic diseases.

Lead product, AT278, is the only ultra-concentrated (500U/mL) ultra-rapid-acting insulin in development. Arecor has signed an initial strategic partnership with Sequel Med Tech, a leading automated insulin delivery (AID) system company to co-develop AT278 in combination with Sequel’s twiist™ AID system.