CytRx (CYTR) Sets New 12-Month Low at $0.64
CytRx Co. (NASDAQ:CYTR)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $0.64 and last traded at $0.67, with a volume of 1309 shares changing hands. The stock had previously closed at $0.71.
A number of equities research analysts recently commented on the company. HC Wainwright set a $5.00 target price on CytRx and gave the stock a “buy” rating in a research report on Thursday, July 26th. Zacks Investment Research upgraded CytRx from a “hold” rating to a “buy” rating and set a $1.25 target price on the stock in a research report on Friday, August 10th.
The stock has a market capitalization of $23.80 million, a P/E ratio of -0.43 and a beta of 2.24.
An institutional investor recently raised its position in CytRx stock. BlackRock Inc. raised its stake in shares of CytRx Co. (NASDAQ:CYTR) by 31.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 302,983 shares of the biotechnology company’s stock after purchasing an additional 72,879 shares during the period. BlackRock Inc. owned 0.90% of CytRx worth $343,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 10.04% of the stock is currently owned by institutional investors and hedge funds.
CytRx Company Profile (NASDAQ:CYTR)
CytRx Corporation, a biopharmaceutical company, engages in the research and clinical development of novel anti-cancer drug candidates that employ linker technologies to enhance the accumulation and release of drug at the tumor. The company is developing its pipeline of oncology candidates at its laboratory facilities in Freiburg, Germany, through its LADR (linker activated drug release) technology platform, a discovery engine designed to leverage its expertise in albumin biology and linker technology for the development of anti-cancer therapies.
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