Citius Pharmaceuticals (NASDAQ:CTXR) Stock Price Down 5.1% – Here’s What Happened

Shares of Citius Pharmaceuticals, Inc. (NASDAQ:CTXR) were down 5.1% during trading on Wednesday . The stock traded as low as $2.44 and last traded at $2.59. Approximately 139,545 shares changed hands during trading, an increase of 35% from the average daily volume of 103,469 shares. The stock had previously closed at $2.73.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price target on shares of Citius Pharmaceuticals in a research note on Tuesday, November 12th. D. Boral Capital reaffirmed a “hold” rating on shares of Citius Pharmaceuticals in a research report on Friday, November 22nd.

Citius Pharmaceuticals Price Performance

The company has a market capitalization of $18.72 million, a price-to-earnings ratio of -0.43 and a beta of 1.48. The firm has a 50-day moving average price of $6.67 and a two-hundred day moving average price of $12.77.

Hedge Funds Weigh In On Citius Pharmaceuticals

Large investors have recently bought and sold shares of the company. Point72 DIFC Ltd bought a new stake in shares of Citius Pharmaceuticals in the second quarter worth $29,000. XTX Topco Ltd acquired a new stake in Citius Pharmaceuticals in the 3rd quarter valued at $47,000. Virtu Financial LLC bought a new stake in Citius Pharmaceuticals during the 3rd quarter worth about $50,000. Miller Investment Management LP lifted its position in Citius Pharmaceuticals by 99.3% during the 3rd quarter. Miller Investment Management LP now owns 99,640 shares of the company’s stock worth $50,000 after buying an additional 49,640 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Citius Pharmaceuticals during the 2nd quarter worth about $69,000. Institutional investors and hedge funds own 16.88% of the company’s stock.

About Citius Pharmaceuticals

Citius Pharmaceuticals, Inc, a late-stage pharmaceutical company, engages in the development and commercialization of critical care products focusing on oncology products, anti-infectives products in adjunct cancer care, prescription products, and stem cell therapy. It is developing five proprietary products comprising LYMPHIR, an engineered IL-2 diphtheria toxin fusion protein for the treatment of patients with persistent or recurrent cutaneous T-cell lymphoma, which is in Phase 3 clinical trial; Mino-Lok, an antibiotic lock solution to treat patients with catheter-related bloodstream infections by salvaging the infected catheter, which is in Phase 3 clinical trial; Halo-Lido, a corticosteroid-lidocaine topical formulation that intends to provide anti-inflammatory and anesthetic relief to persons suffering from hemorrhoids that is in clinical Phase 2b trial; Mino-Wrap, a liquifying gel-based wrap for reduction of tissue expander infections following breast reconstructive surgeries; and NoveCite, a mesenchymal stem cell therapy for the treatment of acute respiratory disease syndrome.