Sunday, September 20, 2020

Qualigen Therapeutics Inc. [QLGN] Stock trading around $4.69 per share: What’s Next?

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Qualigen Therapeutics Inc. [NASDAQ: QLGN] stock went on an upward path that rose over 9.32% on Wednesday, amounting to a one-week price increase of more than 9.84%. The company report on August 31, 2020 that Qualigen Therapeutics Engages IRISYS LLC as GMP Manufacturer for AS1411 Drug Product.

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Qualigen Therapeutics, Inc. (Nasdaq: QLGN) announced today it has signed a contract with IRISYS LLC for the production of AS1411, Qualigen’s lead drug candidate for the treatment of viral diseases including COVID-19. Preclinical studies at the University of Louisville’s (UofL) prestigious Center for Infectious Disease have demonstrated the ability of AS1411 to protect cells from the damaging effects of the novel coronavirus by binding to the nucleolin protein.

Over the last 12 months, QLGN stock dropped by -32.27%. The average equity rating for QLGN stock is currently 3.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $93.99 million, with 8.75 million shares outstanding and 4.69 million shares in the current float. Compared to the average trading volume of 2.44M shares, QLGN stock reached a trading volume of 1388482 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Qualigen Therapeutics Inc. [QLGN]:

The Average True Range (ATR) for Qualigen Therapeutics Inc. is set at 0.39, with the Price to Sales ratio for QLGN stock in the period of the last 12 months amounting to 104.43.

QLGN Stock Performance Analysis:

Qualigen Therapeutics Inc. [QLGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.84. With this latest performance, QLGN shares dropped by -15.34% in over the last four-week period, additionally sinking by -0.74% over the last 6 months – not to mention a drop of -32.27% 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 50.25, with the RSI for the last a single of trading hit 53.78, and the three-weeks RSI is set at 47.65 for Qualigen Therapeutics Inc. [QLGN]. The present Moving Average for the last 50 days of trading for this stock 4.97, while it was recorded at 4.44 for the last single week of trading, and 6.29 for the last 200 days.

Insight into Qualigen Therapeutics Inc. Fundamentals:

Qualigen Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 0.30.

QLGN Stock EPS

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.

Qualigen Therapeutics Inc. [QLGN] Insider Position Details

There are presently around $1 million, or 0.70% of QLGN stock, in the hands of institutional investors. The top three institutional holders of QLGN stocks are: CITADEL ADVISORS LLC with ownership of 34,003, which is approximately 1476.402% of the company’s market cap and around 9.50% of the total institutional ownership; ACADIAN ASSET MANAGEMENT LLC, holding 29,998 shares of the stock with an approximate value of $0.14 million in QLGN stocks shares; and VIRTU FINANCIAL LLC, currently with $0.14 million in QLGN stock with ownership of nearly 401.123% of the company’s market capitalization.

7 institutional holders increased their position in Qualigen Therapeutics Inc. [NASDAQ:QLGN] by around 101,174 shares. Additionally, 8 investors decreased positions by around 5,700 shares, while 2 investors held positions by with 4,150 shares. The mentioned changes placed institutional holdings at 111,024 shares, according to the latest SEC report filing. QLGN stock had 4 new institutional investments in for a total of 40,942 shares, while 6 institutional investors sold positions of 5,650 shares during the same period.

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