Qualigen Therapeutics (NASDAQ:QLGN) Trading Down 4.8% – Should You Sell?

Shares of Qualigen Therapeutics, Inc. (NASDAQ:QLGN) traded down 4.8% during trading on Friday . The company traded as low as $2.5550 and last traded at $2.56. 23,148 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 1,029,491 shares. The stock had previously closed at $2.69.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on QLGN shares. Wall Street Zen upgraded shares of Qualigen Therapeutics to a “sell” rating in a research report on Saturday, October 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Qualigen Therapeutics in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Qualigen Therapeutics Price Performance

The firm has a 50 day simple moving average of $2.60 and a two-hundred day simple moving average of $2.90. The stock has a market cap of $4.34 million, a price-to-earnings ratio of -0.34 and a beta of 0.24.

Qualigen Therapeutics (NASDAQ:QLGN) last posted its earnings results on Friday, November 14th. The company reported ($4.68) earnings per share (EPS) for the quarter.

About Qualigen Therapeutics

Qualigen Therapeutics, Inc (NASDAQ: QLGN) is a life sciences company headquartered in Westminster, Colorado, that combines immunodiagnostic reagents with novel immuno-oncology therapies. Operating through two primary business units—Qualigen Diagnostic Solutions and Qualigen BioTherapeutics—the company seeks to leverage its expertise in antibody engineering and assay development to address both clinical laboratory needs and unmet medical needs in oncology.

Through its Qualigen Diagnostic Solutions division, the company designs, manufactures and distributes immunoassay reagents, kits and related consumables for use in clinical and research laboratories.