Zhongchao Inc [NASDAQ: ZCMD] jumped around 0.25 points on Tuesday, while shares priced at $2.15 at the close of the session, up 13.16%. The company report on March 12, 2024 at 8:30 AM that Zhongchao Inc. Announces Successful Medication Assistance Services for Over 7,000 SLE Patients with Approximately 130,000 Units of Medications.
Zhongchao Inc. (NASDAQ: ZCMD) (“Zhongchao” or the “Company”), a platform-based internet technology company offering services for patients with cancer and other major diseases, today announced that Shanghai Zhongxin Medical Technology Co., Ltd. (“Zhongxin”), of which Zhongchao consolidates the operations and financial results through a series of contractual arrangements, had successfully provided medication assistance services to over 7,000 low-income patients suffering from Systemic Lupus Erythematosus (SLE) and reduced their financial challenges associated with long-term treatment.
SLE is a chronic inflammatory autoimmune disease that affects multiple organs. Zhongxin offered Titazepam and Belimumab, medications used for SLE treatments, to qualified low-income SLE patients for free through its patient aid projects. Leveraging its self-developed technical service platform, Zhongxin facilitated connections among hospitals, pharmacies, corporations, and non-profit organizations, providing SLE patients with medication assistance, disease follow-ups, medication management, and health education services, helping patients maintain adherence to long-term treatments. Over the course of the patient aid projects, Zhongxin has coordinated with pharmacies and distributed approximately 130,000 units of medication to SLE patients, alleviating the financial burden for over 7,000 SLE patients.
Compared to the average trading volume of 87.08K shares, ZCMD reached a trading volume of 6623512 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Zhongchao Inc [ZCMD]?
The Average True Range (ATR) for Zhongchao Inc is set at 0.58, with the Price to Sales ratio for ZCMD stock in the period of the last 12 months amounting to 0.93. The Price to Book ratio for the last quarter was 2.30, with the Price to Cash per share for the same quarter was set at 1.65.
How has ZCMD stock performed recently?
Zhongchao Inc [ZCMD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.25. With this latest performance, ZCMD shares dropped by -43.41% in over the last four-week period, additionally sinking by -81.30% over the last 6 months – not to mention a drop of -80.14% 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 ZCMD stock in for the last two-week period is set at 36.34, with the RSI for the last a single of trading hit 34.10, and the three-weeks RSI is set at 37.38 for Zhongchao Inc [ZCMD]. The present Moving Average for the last 50 days of trading for this stock 3.3000, while it was recorded at 1.9900 for the last single week of trading, and 8.7600 for the last 200 days.
Zhongchao Inc [ZCMD]: Deeper insight into the fundamentals
Zhongchao Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.71 and a Current Ratio set at 10.66.
Insider trade positions for Zhongchao Inc [ZCMD]
The top three institutional holders of ZCMD stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ZCMD stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ZCMD stock with ownership which is approximately 5.8325%.
