CytRx (NASDAQ:CYTR) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Friday.

CytRx (NASDAQ CYTR) traded down $0.08 on Friday, hitting $2.10. 168,393 shares of the stock traded hands, compared to its average volume of 318,341. CytRx has a twelve month low of $1.71 and a twelve month high of $5.99.

A number of institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC bought a new position in shares of CytRx in the 1st quarter valued at about $264,000. LMR Partners LLP acquired a new stake in shares of CytRx during the 2nd quarter worth about $235,000. Vanguard Group Inc. lifted its stake in shares of CytRx by 53.9% during the 2nd quarter. Vanguard Group Inc. now owns 4,823,123 shares of the biotechnology company’s stock worth $3,024,000 after buying an additional 1,689,874 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in CytRx by 795.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 703,465 shares of the biotechnology company’s stock worth $441,000 after purchasing an additional 624,863 shares in the last quarter. 44.97% of the stock is owned by institutional investors and hedge funds.

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CytRx Company Profile

CytRx Corporation is a biopharmaceutical research and development company specializing in oncology. The Company is focused on the clinical development of aldoxorubicin, its modified version of the chemotherapeutic agent, doxorubicin. It is engaged in Phase III trials for aldoxorubicin as a therapy for patients with soft tissue sarcoma (STS) whose tumors have progressed after treatment with chemotherapy.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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