PaxMedica Inc. [NASDAQ: PXMD] closed the trading session at $3.77 on 08/30/22. The day’s price range saw the stock hit a low of $3.53, while the highest price level was $5.18. The company report on August 26, 2022 that Craft Capital Management Announces Pricing of Initial Public Offering for PaxMedica, Inc.
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Shares will Trade on Nasdaq Capital Market under Ticker Symbol “PXMD”.
PaxMedica, Inc. (Nasdaq:PXMD), a clinical stage biopharmaceutical company focusing on the development of anti-purinergic drug therapies for the treatment of disorders with intractable neurologic symptoms, today announced the pricing of its initial public offering of 1,545,454 shares of its common stock at a public price of $5.25 per share. The gross proceeds to PaxMedica from the offering, before deducting underwriting discounts, commissions and offering expenses, are expected to be approximately $8.1 million. All of the shares are being offered by PaxMedica. In addition, PaxMedica has granted the underwriters a 45-day option to purchase an additional 231,818 shares of its common stock at the initial public offering price, less underwriting discounts and commissions.
If compared to the average trading volume of 4.92M shares, PXMD reached to a volume of 3966059 in the most recent trading day, which is why market watchdogs consider the stock to be active.
PXMD stock trade performance evaluation
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.