Discovery Laboratories Inc. (WINT) Sees Unusually-High Trading Volume
Discovery Laboratories Inc. (NASDAQ:WINT) shares saw an uptick in trading volume on Tuesday . 555,955 shares changed hands during mid-day trading, an increase of 735% from the previous session’s volume of 66,580 shares.The stock last traded at $2.62 and had previously closed at $2.20.
Separately, Zacks Investment Research upgraded shares of Discovery Laboratories from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a research note on Thursday, June 23rd.
The firm’s market capitalization is $22.51 million. The stock’s 50-day moving average price is $2.18 and its 200 day moving average price is $2.19.
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Discovery Laboratories (NASDAQ:WINT) last announced its quarterly earnings data on Wednesday, August 10th. The company reported ($1.29) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.64) by $0.35. Discovery Laboratories had a negative return on equity of 2,977.02% and a negative net margin of 6,229.49%. Equities research analysts expect that Discovery Laboratories Inc. will post ($5.87) earnings per share for the current year.
A number of large investors have recently made changes to their positions in WINT. Vanguard Group Inc. purchased a new stake in shares of Discovery Laboratories during the second quarter worth about $384,000. BlackRock Institutional Trust Company N.A. purchased a new stake in shares of Discovery Laboratories during the second quarter worth about $367,000. FMR LLC purchased a new stake in shares of Discovery Laboratories during the second quarter worth about $438,000. Finally, Sabby Management LLC purchased a new stake in shares of Discovery Laboratories during the second quarter worth about $866,000. Institutional investors and hedge funds own 41.05% of the company’s stock.
About Discovery Laboratories
Windtree Therapeutics, Inc, formerly Discovery Laboratories, Inc, is a biotechnology company. The Company is focused on developing KL4 surfactant therapies for respiratory diseases and other potential applications. The Company operates through the research and development of products focused on surfactant therapies for respiratory disorders and diseases, and the manufacture and commercial sales of approved products segment.
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