WuXi AppTec (OTCMKTS:WUXAY) Shares Gap Down – Here’s Why

WuXi AppTec Co., Ltd. (OTCMKTS:WUXAY) gapped down before the market opened on Monday . The stock had previously closed at $26.13, but opened at $24.80. WuXi AppTec shares last traded at $24.0250, with a volume of 523 shares traded.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised WuXi AppTec from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat.com, WuXi AppTec presently has a consensus rating of “Strong Buy”.

WuXi AppTec Stock Down 6.1%

The stock’s fifty day moving average price is $21.77 and its 200-day moving average price is $17.81.

About WuXi AppTec

WuXi AppTec is a global contract research, development and manufacturing organization serving the pharmaceutical, biotechnology and medical device industries. Headquartered in Shanghai and founded in 2000, the company provides end-to-end solutions that span drug discovery, development and manufacturing. Its offerings enable customers to accelerate the research and development process for small molecules, biologics, cell and gene therapies, as well as medical devices.

Key services include chemistry and biology discovery support, preclinical safety assessment, analytical and formulation development, clinical manufacturing, large-scale biomanufacturing, and quality testing.