Biodexa Pharmaceuticals (NASDAQ:BDRX) Trading Down 2% – Should You Sell?

Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) shares dropped 2% during mid-day trading on Friday . The stock traded as low as $3.32 and last traded at $3.36. Approximately 28,844 shares were traded during trading, an increase of 6% from the average daily volume of 27,233 shares. The stock had previously closed at $3.43.

Analyst Upgrades and Downgrades

BDRX has been the subject of several analyst reports. Weiss Ratings downgraded shares of Biodexa Pharmaceuticals from a “sell (e+)” rating to a “sell (e)” rating in a report on Wednesday. Wall Street Zen downgraded shares of Biodexa Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, March 30th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Biodexa Pharmaceuticals Price Performance

The firm’s fifty day moving average is $3.52 and its two-hundred day moving average is $9.43.

Biodexa Pharmaceuticals (NASDAQ:BDRX) last posted its quarterly earnings data on Friday, March 27th. The company reported $3.52 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $3.53.

Institutional Investors Weigh In On Biodexa Pharmaceuticals

A hedge fund recently bought a new stake in Biodexa Pharmaceuticals stock. Armistice Capital LLC acquired a new position in Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $227,000. Armistice Capital LLC owned 14.71% of Biodexa Pharmaceuticals as of its most recent SEC filing. Institutional investors and hedge funds own 17.51% of the company’s stock.

About Biodexa Pharmaceuticals

Biodexa Pharmaceuticals Plc, a clinical stage biopharmaceutical company, focuses on developing a pipeline of products for the treatment of Type 1 diabetes and rare/orphan cancers of the brain. Its lead product candidate Tolimidone, a selective activator of the lyn kinase enzyme, currently under Phase II studies for the treatment of Type 1 diabetes. The company is also developing MTX110, which is currently in Phase I studies for the treatment of diffuse intrinsic recurrent glioblastoma, diffuse midline glioma, and medulloblastoma; and MTD217, a program centered around a water-soluble drug formulation that can be easily infused or injected simultaneously, or sequentially, directly into the cancer microenvironment, currently under preclinical studies for the treatment of leptomeningeal disease.