MyMD Pharmaceuticals (NASDAQ:MYMD) Shares Down 14.1% – Should You Sell?

MyMD Pharmaceuticals, Inc. (NASDAQ:MYMD) shares were down 14.1% during mid-day trading on Wednesday . The stock traded as low as $1.14 and last traded at $1.16. Approximately 109,107 shares changed hands during mid-day trading, a decline of 19% from the average daily volume of 134,123 shares. The stock had previously closed at $1.35.

MyMD Pharmaceuticals Price Performance

The stock’s 50-day simple moving average is $1.47 and its 200 day simple moving average is $1.74.

MyMD Pharmaceuticals Company Profile

MyMD Pharmaceuticals, Inc, a clinical development stage pharmaceutical company, focuses on developing various therapeutic platforms to treat the aging and age-related and autoimmune diseases, and chronic pain, anxiety, and sleep disorders. The company is developing MYMD-1, a drug platform based on a clinical stage small molecule that regulates the immune system and its pro-inflammatory cytokines to prevent and treat autoimmune diseases and age-related illnesses, and a Phase 2 clinical trial for sarcopenia, multiple sclerosis, diabetes, inflammatory bowel diseases, and rheumatoid arthritis; inflammation related depression and anxiety; and COVID-19-associated depression.