Wednesday, November 25, 2020

Qualigen Therapeutics Inc. [QLGN] Stock trading around $4.04 per share: What’s Next?

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Qualigen Therapeutics Inc. [NASDAQ: QLGN] slipped around -0.04 points on Wednesday, while shares priced at $4.04 at the close of the session, down -0.98%. The company report on October 28, 2020 that Qualigen Therapeutics Receives Positive Pre-IND Response from FDA for the Clinical Development of AS1411 as a Treatment for COVID-19.

Plans to File IND Application and Initiate Phase 2a Study in First Half of 2021.


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Qualigen Therapeutics, Inc. (Nasdaq: QLGN) today announced receipt of written feedback to its Type B Pre-IND (Pre-Investigational New Drug application) meeting request from the U.S. Food and Drug Administration (FDA) that is in general agreement with the Company’s planned clinical development of AS1411, a nucleolin-targeting DNA aptamer drug candidate, for the treatment of COVID-19.

Qualigen Therapeutics Inc. stock is now -4.32% down from its year-to-date (YTD) trading value. QLGN Stock saw the intraday high of $4.25 and lowest of $3.86 per share. The company’s 52-week high price is 21.50, which means current price is +8.89% above from all time high which was touched on 03/02/20.

Compared to the average trading volume of 1.44M shares, QLGN reached a trading volume of 1433415 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 0.28, with the Price to Sales ratio for QLGN stock in the period of the last 12 months amounting to 122.68.

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 -7.13. With this latest performance, QLGN shares dropped by -17.21% in over the last four-week period, additionally sinking by -50.18% over the last 6 months – not to mention a drop of -37.24% 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 32.61, with the RSI for the last a single of trading hit 24.61, and the three-weeks RSI is set at 38.59 for Qualigen Therapeutics Inc. [QLGN]. The present Moving Average for the last 50 days of trading for this stock 4.69, while it was recorded at 4.23 for the last single week of trading, and 6.30 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 0.20 and a Current Ratio set at 0.30.

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 0.60% 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 7.30% of the total institutional ownership; ACADIAN ASSET MANAGEMENT LLC, holding 29,998 shares of the stock with an approximate value of $0.12 million in QLGN stocks shares; and VIRTU FINANCIAL LLC, currently with $0.12 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, 7 investors decreased positions by around 5,680 shares, while 2 investors held positions by with 4,170 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 5 institutional investors sold positions of 5,630 shares during the same period.

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