Graybug Vision (NASDAQ:GRAY) Shares Down 8.7% – Should You Sell?

Shares of Graybug Vision, Inc. (NASDAQ:GRAY) were down 8.7% during mid-day trading on Wednesday . The company traded as low as $0.5951 and last traded at $0.6046. Approximately 284,634 shares traded hands during mid-day trading, an increase of 13,047% from the average daily volume of 2,165 shares. The stock had previously closed at $0.6619.

Graybug Vision Stock Down 4.3%

The company has a market capitalization of $911,180.00, a P/E ratio of -0.34 and a beta of 1.20. The business has a 50 day simple moving average of $0.63 and a 200-day simple moving average of $2.78.

Graybug Vision Company Profile

Graybug Vision, Inc is a clinical-stage biopharmaceutical company dedicated to developing innovative therapies for retinal diseases. The company’s proprietary Depot Technology Platform is designed to deliver sustained-release formulations of biologically active agents directly to the back of the eye, with the goal of reducing treatment burden and improving patient outcomes. Graybug’s lead product candidate, GB-102, is a long-acting formulation of sunitinib malate being investigated for the treatment of wet age-related macular degeneration (wet AMD).