Timber Pharmaceuticals Inc. [AMEX: TMBR] slipped around 0.0 points on Monday, while shares priced at $0.10 at the close of the session, down -0.39%. The company report on August 8, 2022 that Timber Pharmaceuticals Announces Closing of $8.0 Million Public Offering.
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via NewMediaWire — Timber Pharmaceuticals, Inc. (“Timber” or the “Company”) (NYSE American: TMBR), a biopharmaceutical company focused on the development and commercialization of treatments for rare and orphan dermatologic diseases, today announced the closing of its previously announced public offering of 66,666,667 shares of its common stock (or pre-funded warrants in lieu thereof) and warrants to purchase up to 66,666,667 shares of its common stock at an offering price to the public of $0.12 per share (or pre-funded warrant) and associated warrant. The warrants have an exercise price of $0.12 per share, are exercisable immediately upon issuance, and will expire five years following the date of issuance.
H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
Timber Pharmaceuticals Inc. stock is now -73.05% down from its year-to-date (YTD) trading value. TMBR Stock saw the intraday high of $0.11 and lowest of $0.10 per share. The company’s 52-week high price is 1.12, which means current price is +13.78% above from all time high which was touched on 03/25/22.
Compared to the average trading volume of 3.92M shares, TMBR reached a trading volume of 24738646 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Timber Pharmaceuticals Inc. [TMBR]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TMBR shares is $1.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TMBR stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
The Average True Range (ATR) for Timber Pharmaceuticals Inc. is set at 0.03, with the Price to Sales ratio for TMBR stock in the period of the last 12 months amounting to 6.74. The Price to Book ratio for the last quarter was 0.60, with the Price to Cash per share for the same quarter was set at 0.23.
How has TMBR stock performed recently?
Timber Pharmaceuticals Inc. [TMBR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -49.05. With this latest performance, TMBR shares dropped by -64.43% in over the last four-week period, additionally sinking by -70.61% over the last 6 months – not to mention a drop of -89.96% 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 TMBR stock in for the last two-week period is set at 11.87, with the RSI for the last a single of trading hit 7.58, and the three-weeks RSI is set at 17.77 for Timber Pharmaceuticals Inc. [TMBR]. The present Moving Average for the last 50 days of trading for this stock 0.2673, while it was recorded at 0.1304 for the last single week of trading, and 0.3525 for the last 200 days.
Timber Pharmaceuticals Inc. [TMBR]: Deeper insight into the fundamentals
Timber Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.60 and a Current Ratio set at 3.60.
Insider trade positions for Timber Pharmaceuticals Inc. [TMBR]
There are presently around $0 million, or 4.30% of TMBR stock, in the hands of institutional investors. The top three institutional holders of TMBR stocks are: VANGUARD GROUP INC with ownership of 1,172,767, which is approximately 0% of the company’s market cap and around 0.80% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 871,237 shares of the stock with an approximate value of $89000.0 in TMBR stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $21000.0 in TMBR stock with ownership of nearly -0.101% of the company’s market capitalization.
10 institutional holders increased their position in Timber Pharmaceuticals Inc. [AMEX:TMBR] by around 395,616 shares. Additionally, 10 investors decreased positions by around 381,137 shares, while 2 investors held positions by with 1,931,146 shares. The mentioned changes placed institutional holdings at 2,707,899 shares, according to the latest SEC report filing. TMBR stock had 6 new institutional investments in for a total of 115,073 shares, while 7 institutional investors sold positions of 281,708 shares during the same period.