Ritter Pharmaceuticals (RTTR) Trading 12.9% Higher
Ritter Pharmaceuticals, Inc. (NASDAQ:RTTR)’s share price traded up 12.9% during mid-day trading on Thursday . The stock traded as high as $0.35 and last traded at $0.35. 862,708 shares traded hands during mid-day trading, an increase of 172% from the average session volume of 317,601 shares. The stock had previously closed at $0.31.
Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Ritter Pharmaceuticals from a “hold” rating to a “buy” rating and set a $0.50 price objective for the company in a research note on Tuesday, October 3rd. HC Wainwright decreased their price objective on Ritter Pharmaceuticals from $7.00 to $1.50 and set a “buy” rating for the company in a research note on Monday, October 23rd. Finally, Roth Capital set a $2.00 price objective on Ritter Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, October 23rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Ritter Pharmaceuticals has an average rating of “Buy” and an average target price of $2.10.
The company has a market cap of $17.32 and a P/E ratio of -0.30.
A hedge fund recently bought a new stake in Ritter Pharmaceuticals stock. Susquehanna International Group LLP acquired a new position in shares of Ritter Pharmaceuticals, Inc. (NASDAQ:RTTR) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,222,522 shares of the biotechnology company’s stock, valued at approximately $778,000. Susquehanna International Group LLP owned 4.49% of Ritter Pharmaceuticals at the end of the most recent reporting period. 33.38% of the stock is currently owned by institutional investors and hedge funds.
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About Ritter Pharmaceuticals
Ritter Pharmaceuticals, Inc develops therapeutic products that modulate the human gut microbiome to treat gastrointestinal diseases. The Company’s segment is focusing on the development and commercialization of RP-G28. The Company conducts human gut health research by exploring metabolic capacity of the gut microbiota and translating the functionality of prebiotic-based therapeutics into applications intended to have impact on a patient’s health.
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