Chromocell Therapeutics (NYSE:CHRO) Coverage Initiated by Analysts at Alliance Global Partners

Alliance Global Partners started coverage on shares of Chromocell Therapeutics (NYSE:CHRO) in a research note published on Tuesday, Benzinga reports. The brokerage issued a buy rating on the stock.

Chromocell Therapeutics Stock Up 12.7 %

Chromocell Therapeutics stock opened at $1.42 on Tuesday. Chromocell Therapeutics has a twelve month low of $1.21 and a twelve month high of $6.00. The business’s fifty day moving average is $1.63.

Chromocell Therapeutics (NYSE:CHRO) last issued its quarterly earnings data on Wednesday, May 15th. The company reported ($0.55) earnings per share for the quarter.

Institutional Investors Weigh In On Chromocell Therapeutics

A hedge fund recently bought a new stake in Chromocell Therapeutics stock. Anson Funds Management LP purchased a new position in shares of Chromocell Therapeutics Co. (NYSE:CHRO) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 251,888 shares of the company’s stock, valued at approximately $660,000. Anson Funds Management LP owned approximately 4.28% of Chromocell Therapeutics at the end of the most recent quarter. 77.96% of the stock is owned by hedge funds and other institutional investors.

Chromocell Therapeutics Company Profile

Chromocell Therapeutics Corporation, a clinical-stage biotech company, focuses on the development and commercialization of new therapeutics to alleviate pain. The company intends to selectively target the sodium ion-channel known as NaV1.7, as well as other receptors in the NaV family. Its lead compound comprises CC8464, which is in Phase 2a clinical trials for use in the treatment of erythromelalgia, as well as other fields of neuropathic pain and acute and chronic eye pain.