Lunai Bioworks (NASDAQ:LNAI) Trading Down 2.7% – Here’s Why

Lunai Bioworks Inc. (NASDAQ:LNAI)’s stock price was down 2.7% during trading on Wednesday . The company traded as low as $2.37 and last traded at $2.48. Approximately 102,450 shares were traded during mid-day trading, a decline of 78% from the average session volume of 476,323 shares. The stock had previously closed at $2.55.

Analysts Set New Price Targets

A number of analysts have issued reports on LNAI shares. Wall Street Zen upgraded shares of Lunai Bioworks to a “sell” rating in a research note on Saturday, May 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of Lunai Bioworks in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Lunai Bioworks currently has a consensus rating of “Sell”.

Lunai Bioworks Stock Down 0.4%

The business has a 50-day simple moving average of $2.84 and a 200-day simple moving average of $3.37. The stock has a market cap of $10.92 million, a P/E ratio of -6.03 and a beta of 0.41.

Lunai Bioworks (NASDAQ:LNAI) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.10) EPS for the quarter. The firm had revenue of $0.02 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Lunai Bioworks stock. Millennium Management LLC purchased a new stake in shares of Lunai Bioworks Inc. (NASDAQ:LNAI) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 202,629 shares of the company’s stock, valued at approximately $288,000. Millennium Management LLC owned 0.87% of Lunai Bioworks at the end of the most recent reporting period. 71.41% of the stock is owned by hedge funds and other institutional investors.

About Lunai Bioworks

Enochian Biosciences, Inc, a pre-clinical stage biotechnology company, engages in the research and development of pharmaceutical and biological products for the human treatment of human immunodeficiency virus (HIV), hepatitis B virus (HBV), influenza and coronavirus infections, and cancer. The company’s lead candidate includes ENOB-HV-01 for autologous HIV curative treatment; ENOB-HV-11, a preventative HIV vaccine; ENOB-HV-12, a therapeutic HIV vaccine; and ENOB-HB-01, a coopting HBV polymerase. Its pipeline development products comprise ENOB-DC-11 off the shelf DC vaccine for multiple solid tumors; and ENOB-DC-21, a non-specific vaccine for intraturmoral injection.