Zhongchao Inc [NASDAQ: ZCMD] traded at a high on Thursday, posting a 24.68 gain after which it closed the day’ session at $1.92. 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.
The results of the trading session contributed to over 8387210 shares changing hands. Over the past one week, the price volatility of Zhongchao Inc stands at 18.21% while the volatility over the past one month is 17.43%.
The market cap for ZCMD stock reached $14.25 million, with 7.42 million shares outstanding and 1.47 million shares in the current float. Compared to the average trading volume of 207.23K shares, ZCMD reached a trading volume of 8387210 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 0.34, with the Price to Sales ratio for ZCMD stock in the period of the last 12 months amounting to 0.83. The Price to Book ratio for the last quarter was 2.06, 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] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 50.00. With this latest performance, ZCMD shares dropped by -27.00% in over the last four-week period, additionally sinking by -82.69% over the last 6 months – not to mention a drop of -84.39% 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 47.85, with the RSI for the last a single of trading hit 57.71, and the three-weeks RSI is set at 43.56 for Zhongchao Inc [ZCMD]. The present Moving Average for the last 50 days of trading for this stock 2.7134, while it was recorded at 1.4770 for the last single week of trading, and 8.0020 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 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in ZCMD stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in ZCMD stock with ownership which is approximately 5.8386%.
