PainReform (NASDAQ:PRFX) Stock Price Down 3.6% – What’s Next?

PainReform Ltd. (NASDAQ:PRFX)’s stock price was down 3.6% during mid-day trading on Thursday . The company traded as low as $3.12 and last traded at $3.24. Approximately 149,983 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 824,289 shares. The stock had previously closed at $3.36.

Analyst Ratings Changes

Separately, Maxim Group reissued a “hold” rating on shares of PainReform in a research report on Thursday, October 24th.

PainReform Price Performance

The firm has a market capitalization of $469,800.00, a P/E ratio of -0.02 and a beta of 0.74. The firm’s 50 day moving average is $3.15 and its two-hundred day moving average is $2.43.

Institutional Inflows and Outflows

An institutional investor recently raised its position in PainReform stock. Armistice Capital LLC boosted its position in PainReform Ltd. (NASDAQ:PRFX) by 76.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 276,000 shares of the company’s stock after purchasing an additional 120,000 shares during the period. Armistice Capital LLC owned about 13.60% of PainReform worth $132,000 as of its most recent filing with the SEC. 37.28% of the stock is currently owned by hedge funds and other institutional investors.

About PainReform

PainReform Ltd., a clinical stage specialty pharmaceutical company, focuses on the reformulation of established therapeutics and provides an extended period of post-surgical pain relief in Israel. It develops PRF-110, a viscous clear oil-based solution that is instilled directly into the surgical wound to provide localized and extended post-operative analgesia, as well as in Phase 3 clinical trial for pain treatment of patients undergoing bunionectomy and second trial for pain treatment of hernia repair operations.