PainReform Ltd [NASDAQ: PRFX] loss -13.21% or -0.23 points to close at $1.51 with a heavy trading volume of 6248120 shares. The company report on April 9, 2024 at 9:00 AM that PainReform’s Non-Opiate Topical Treatment for Post-Surgical Pain Relief Outperforms Leading Competitor Under Various Testing Conditions.
Leveraging the latest IVR technology, which automates the testing of drug release from formulations over time, PainReform conducted comprehensive studies to evaluate the performance of PRF-110. Over a 72-hour industry-standard duration, and extending to 96 hours, PRF-110 exhibited remarkably higher rates of analgesic drug release compared to a market-leading post-surgical pain product. Results indicated that PRF-110 released between 34%-77% more drug over a span of 96 hours under various testing conditions.
The daily chart for PRFX points out that the company has recorded -51.60% loss over the past six months.
If we look at the average trading volume of 15.89K shares, PRFX reached to a volume of 6248120 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about PainReform Ltd [PRFX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PRFX shares is $11.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PRFX stock is a recommendation set at 1.00. 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 PainReform Ltd is set at 0.24 The Price to Book ratio for the last quarter was 0.36, with the Price to Cash per share for the same quarter was set at 4.65.
Trading performance analysis for PRFX stock
PainReform Ltd [PRFX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.72. With this latest performance, PRFX shares dropped by -23.74% in over the last four-week period, additionally sinking by -51.60% over the last 6 months – not to mention a drop of -76.04% 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 PRFX stock in for the last two-week period is set at 31.56, with the RSI for the last a single of trading hit 26.63, and the three-weeks RSI is set at 35.19 for PainReform Ltd [PRFX]. The present Moving Average for the last 50 days of trading for this stock 1.9513, while it was recorded at 1.7058 for the last single week of trading, and 3.4324 for the last 200 days.
PainReform Ltd [PRFX]: A deeper dive into fundamental analysis
PainReform Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.07 and a Current Ratio set at 4.07.
An analysis of Institutional ownership at PainReform Ltd [PRFX]
The top three institutional holders of PRFX 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 PRFX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in PRFX stock with ownership which is approximately 5.8386%.
