Qualigen Therapeutics Inc. [NASDAQ: QLGN] jumped around 0.6 points on Wednesday, while shares priced at $4.57 at the close of the session, up 15.11%. On July 1, 2020, the company updated its submission of a notification to the FDA for the commencement of sales of FastPack® SARS-CoV-2 IgG test for COVID-19 antibodies across the country.
The company has previously requested the FDA for authorization from Emergency Use Authorization (EUA). However, Qualigen is now allowed to begin with official sales across the United States before the EUA grant, as per the notification. The company anticipates the sales and shipments of the new test to commence from mid-July.
Qualigen Therapeutics Inc. stock is now 8.23% up from its year-to-date (YTD) trading value. QLGN Stock saw the intraday high of $7.50 and lowest of $4.40 per share. The company’s 52-week high price is 31.75, which means current price is +23.18% above from all time high which was touched on 03/02/20.
Compared to the average trading volume of 704.63K shares, QLGN reached a trading volume of 44388490 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Qualigen Therapeutics Inc. [QLGN]?
The Average True Range (ATR) for Qualigen Therapeutics Inc. is set at 0.90, with the Price to Sales ratio for QLGN stock in the period of the last 12 months amounting to 11.31. The Price to Book ratio for the last quarter was 32.64.
How has QLGN stock performed recently?
Qualigen Therapeutics Inc. [QLGN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.79. With this latest performance, QLGN shares dropped by -18.25% in over the last four-week period, additionally plugging by 8.23% over the last 6 months – not to mention a drop of -82.59% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for QLGN stock in for the last two-week period is set at 43.86, with the RSI for the last a single of trading hit 39.40, and the three-weeks RSI is set at 41.62 for Qualigen Therapeutics Inc. [QLGN]. The present Moving Average for the last 50 days of trading for this stock 8.14, while it was recorded at 4.41 for the last single week of trading, and 6.71 for the last 200 days.
Qualigen Therapeutics Inc. [QLGN]: Deeper insight into the fundamentals
Qualigen Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.70 and a Current Ratio set at 3.70.
Earnings analysis for Qualigen Therapeutics Inc. [QLGN]
With the latest financial reports released by the company, Qualigen Therapeutics Inc. posted -14.5/share EPS, while the average EPS was predicted by analysts to be reported at -18.12/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 20.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for QLGN.
Insider trade positions for Qualigen Therapeutics Inc. [QLGN]
There are presently around $0 million, or 0.30% of QLGN stock, in the hands of institutional investors. The top three institutional holders of QLGN stocks are: VIRTU FINANCIAL LLC with ownership of 5,964, which is approximately 112.545% of the company’s market cap and around 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 3,644 shares of the stock with an approximate value of $14000.0 in QLGN stocks shares; and CITADEL ADVISORS LLC, currently with $9000.0 in QLGN stock with ownership of nearly New of the company’s market capitalization.
9 institutional holders increased their position in Qualigen Therapeutics Inc. [NASDAQ:QLGN] by around 7,216 shares. Additionally, 5 investors decreased positions by around 15,997 shares, while 2 investors held positions by with 7,683 shares. The mentioned changes placed institutional holdings at 15,530 shares, according to the latest SEC report filing. QLGN stock had 6 new institutional investments in for a total of 3,971 shares, while 3 institutional investors sold positions of 14,071 shares during the same period.