180 Life Sciences Corp. [NASDAQ: ATNF] plunged by -$1.65 during the normal trading session on Monday and reaching a high of $9.79 during the day while it closed the day at $8.33. The company report on April 20, 2021 that 180 Life Sciences Corp. Receives Expected Notification From Nasdaq Related To Delayed Annual Report on Form 10-K.
180 Life Sciences Corp. (NASDAQ: ATNF) (“180 Life Sciences” or the “Company”), a clinical-stage biotechnology company focused on the development of novel drugs that fulfill unmet needs in inflammatory diseases, fibrosis and pain, announced that it received an expected letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) because it has not yet filed its Annual Report on Form 10-K for the year ended December 31, 2020 (the “2020 Form 10-K”) with the Securities and Exchange Commission (the “SEC”). The Nasdaq notification letter has no immediate effect on the listing or trading of the Company’s common stock on the Nasdaq Capital Market.
The Company filed amended and re-stated financial statements of its predecessor, KBL Merger Corp. IV, for the periods ended June 30, 2020 and September 30, 2020, on February 5, 2021, and, in addition, filed an amended post-merger Current Report on Form 8-K on February 18, 2021. As a result, the Company was unable to complete the preparation of its December 31, 2020 financial statements, for audit by its independent auditors, on a timely basis. Additionally, on April 12, 2021, the SEC issued a statement regarding accounting and reporting considerations for warrants issued by Special Purpose Acquisition Companies. The Company is in the process of reviewing that SEC statement and assessing the implications, if any. As a result of these two matters, our auditors are in the process of their audit of our December 31, 2020 financial statements, and it will be completed as soon as practical.
180 Life Sciences Corp. stock has also loss -30.47% of its value over the past 7 days. However, ATNF stock has inclined by 169.58% in the 3 months of the year. Over the past six months meanwhile, it has lost -23.96% and gained 205.13% year-on date.
The market cap for ATNF stock reached $202.09 million, with 24.26 million shares outstanding and 13.80 million shares in the current float. Compared to the average trading volume of 3.19M shares, ATNF reached a trading volume of 1672395 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about 180 Life Sciences Corp. [ATNF]:
The Average True Range (ATR) for 180 Life Sciences Corp. is set at 1.43 The Price to Book ratio for the last quarter was 9.15, with the Price to Cash per share for the same quarter was set at 0.02.
ATNF stock trade performance evaluation
180 Life Sciences Corp. [ATNF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -30.47. With this latest performance, ATNF shares gained by 26.98% in over the last four-week period, additionally sinking by -23.96% over the last 6 months – not to mention a drop of -20.52% 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 ATNF stock in for the last two-week period is set at 53.12, with the RSI for the last a single of trading hit 47.94, and the three-weeks RSI is set at 55.39 for 180 Life Sciences Corp. [ATNF]. The present Moving Average for the last 50 days of trading for this stock 6.36, while it was recorded at 9.92 for the last single week of trading, and 7.25 for the last 200 days.
180 Life Sciences Corp. [ATNF]: An insightful look at the core fundamentals
When it comes to the capital structure of this company, 180 Life Sciences Corp. [ATNF] has a Total Debt to Total Equity ratio set at 53.51. Additionally, ATNF Total Debt to Total Capital is recorded at 34.86, with Total Debt to Total Assets ending up at 22.89.
180 Life Sciences Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.10.
180 Life Sciences Corp. [ATNF]: Insider Ownership positions
There are presently around $13 million, or 6.50% of ATNF stock, in the hands of institutional investors. The top three institutional holders of ATNF stocks are: VANGUARD GROUP INC with ownership of 1,179,639, which is approximately New of the company’s market cap and around 17.50% of the total institutional ownership; BOOTHBAY FUND MANAGEMENT, LLC, holding 200,000 shares of the stock with an approximate value of $1.67 million in ATNF stocks shares; and MILLENNIUM MANAGEMENT LLC, currently with $0.71 million in ATNF stock with ownership of nearly New of the company’s market capitalization.
10 institutional holders increased their position in 180 Life Sciences Corp. [NASDAQ:ATNF] by around 1,516,973 shares. Additionally, 15 investors decreased positions by around 1,132,649 shares, while 1 investors held positions by with 1,044,365 shares. The mentioned changes placed institutional holdings at 1,605,257 shares, according to the latest SEC report filing. ATNF stock had 7 new institutional investments in for a total of 1,332,903 shares, while 14 institutional investors sold positions of 868,100 shares during the same period.