Ocuphire Pharma (NASDAQ:OCUP) Shares Down 12% – Time to Sell?

Ocuphire Pharma, Inc. (NASDAQ:OCUP) shares fell 12% during mid-day trading on Monday . The company traded as low as $1.07 and last traded at $1.17. 676,700 shares changed hands during trading, an increase of 294% from the average session volume of 171,840 shares. The stock had previously closed at $1.33.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group decreased their price target on shares of Ocuphire Pharma from $18.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. HC Wainwright reduced their price objective on Ocuphire Pharma from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th.

Ocuphire Pharma Stock Performance

The company has a 50 day simple moving average of $1.26 and a two-hundred day simple moving average of $1.54. The company has a market cap of $30.33 million, a PE ratio of -2.39 and a beta of 0.20.

Institutional Investors Weigh In On Ocuphire Pharma

An institutional investor recently bought a new position in Ocuphire Pharma stock. Virtu Financial LLC acquired a new stake in shares of Ocuphire Pharma, Inc. (NASDAQ:OCUP) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 17,752 shares of the company’s stock, valued at approximately $36,000. Virtu Financial LLC owned 0.07% of Ocuphire Pharma at the end of the most recent quarter. Institutional investors and hedge funds own 14.97% of the company’s stock.

Ocuphire Pharma Company Profile

Ocuphire Pharma, Inc, a clinical-stage ophthalmic biopharmaceutical company, focuses on developing and commercializing therapies for the treatment of unmet needs of patients with refractive and retinal eye disorders. The company offers Phentolamine Ophthalmic Solution for reversal of mydriasis, as well as is in Phase III clinical trials for presbyopia and dim light or night vision disturbances.