MyMD Pharmaceuticals, Inc. (NASDAQ:MYMD – Get Free Report) shares rose 3.2% during mid-day trading on Monday . The stock traded as high as $2.69 and last traded at $2.58. Approximately 64,695 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 194,298 shares. The stock had previously closed at $2.50.
MyMD Pharmaceuticals Stock Up 11.7 %
The company has a 50 day simple moving average of $2.83 and a 200-day simple moving average of $6.35. The stock has a market capitalization of $6.18 million, a price-to-earnings ratio of -0.53 and a beta of 2.29.
Institutional Investors Weigh In On MyMD Pharmaceuticals
A hedge fund recently raised its stake in MyMD Pharmaceuticals stock. Cambria Investment Management L.P. grew its position in shares of MyMD Pharmaceuticals, Inc. (NASDAQ:MYMD – Free Report) by 184.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,570 shares of the company’s stock after acquiring an additional 111,335 shares during the quarter. Cambria Investment Management L.P. owned about 0.38% of MyMD Pharmaceuticals worth $102,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 9.64% of the company’s stock.
About MyMD Pharmaceuticals
MyMD Pharmaceuticals, Inc, a clinical development stage pharmaceutical company, focuses on developing various therapeutic platforms to treat the aging and age-related and autoimmune diseases, and chronic pain, anxiety, and sleep disorders. The company is developing MYMD-1, a drug platform based on a clinical stage small molecule that regulates the immune system and its pro-inflammatory cytokines to prevent and treat autoimmune diseases and age-related illnesses, and a Phase 2 clinical trial for sarcopenia, multiple sclerosis, diabetes, inflammatory bowel diseases, and rheumatoid arthritis; inflammation related depression and anxiety; and COVID-19-associated depression.
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