MyMD Pharmaceuticals Inc [NASDAQ: MYMD] traded at a high on Tuesday, posting a 1.95 gain after which it closed the day’ session at $2.62. The company report on March 5, 2024 at 9:15 AM that MyMD Pharmaceuticals Regains Compliance with Nasdaq Minimum Bid Price Requirement for Continued Listing.
MyMD Pharmaceuticals, Inc.® (Nasdaq: MYMD) (“MyMD” or “the Company”), a clinical stage biopharmaceutical company committed to developing novel therapies for age-related diseases, autoimmune and inflammatory conditions, today announced that it received notice from The Nasdaq Stock Market LLC (“Nasdaq”) on March 4, 2024 informing the Company that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) (“Listing Rule”) for continued listing on the Nasdaq Capital Market.
On October 11, 2023, MyMD received notice from the Listing Qualifications Department of Nasdaq indicating that the Company was not in compliance with the Listing Rule, as its common shares had failed to meet a closing bid price of $1.00 or more for 30 consecutive business days. The Company conducted a 1-for-30 reverse split of its common stock on February 14, 2024, with the goal of increasing the trading price of the common stock. The common stock began trading on a split-adjusted basis on February 15, 2024, under the new CUSIP number 62856X201.
The results of the trading session contributed to over 10791436 shares changing hands. Over the past one week, the price volatility of MyMD Pharmaceuticals Inc stands at 19.43% while the volatility over the past one month is 10.39%.
The market cap for MYMD stock reached $5.66 million, with 2.02 million shares outstanding and 1.90 million shares in the current float. Compared to the average trading volume of 43.41K shares, MYMD reached a trading volume of 10791436 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about MyMD Pharmaceuticals Inc [MYMD]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MYMD shares is $32.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MYMD 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 MyMD Pharmaceuticals Inc is set at 0.31 The Price to Book ratio for the last quarter was 0.43, with the Price to Cash per share for the same quarter was set at 2.28.
How has MYMD stock performed recently?
MyMD Pharmaceuticals Inc [MYMD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.02. With this latest performance, MYMD shares dropped by -17.87% in over the last four-week period, additionally sinking by -80.15% over the last 6 months – not to mention a drop of -94.22% 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 MYMD stock in for the last two-week period is set at 45.11, with the RSI for the last a single of trading hit 53.17, and the three-weeks RSI is set at 40.97 for MyMD Pharmaceuticals Inc [MYMD]. The present Moving Average for the last 50 days of trading for this stock 3.28, while it was recorded at 2.34 for the last single week of trading, and 15.60 for the last 200 days.
MyMD Pharmaceuticals Inc [MYMD]: Deeper insight into the fundamentals
MyMD Pharmaceuticals Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.17 and a Current Ratio set at 1.17.
Insider trade positions for MyMD Pharmaceuticals Inc [MYMD]
The top three institutional holders of MYMD 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 MYMD stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in MYMD stock with ownership which is approximately 5.8386%.
