CytRx Co. (NASDAQ:CYTR)’s share price traded down 25.5% during trading on Friday . The company traded as low as $0.37 and last traded at $0.38. 1,592,690 shares changed hands during trading, an increase of 857% from the average session volume of 166,342 shares. The stock had previously closed at $0.51.

Separately, HC Wainwright set a $5.00 target price on shares of CytRx and gave the stock a “buy” rating in a research note on Tuesday, February 5th.

The company has a market capitalization of $17.28 million, a P/E ratio of -1.31 and a beta of 2.13.

CytRx (NASDAQ:CYTR) last released its quarterly earnings results on Wednesday, May 15th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. As a group, equities research analysts expect that CytRx Co. will post -0.24 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in shares of CytRx by 61.1% in the 1st quarter. Renaissance Technologies LLC now owns 626,144 shares of the biotechnology company’s stock valued at $413,000 after acquiring an additional 237,391 shares during the period. Virtu Financial LLC raised its stake in shares of CytRx by 327.0% in the 4th quarter. Virtu Financial LLC now owns 90,678 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 69,444 shares during the period. Finally, Deutsche Bank AG raised its stake in shares of CytRx by 1,076,287.5% in the 4th quarter. Deutsche Bank AG now owns 86,111 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 86,103 shares during the period. 7.90% of the stock is currently owned by institutional investors and hedge funds.

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CytRx Company Profile (NASDAQ:CYTR)

CytRx Corporation, a biopharmaceutical company, engages in the research and clinical development of novel anti-cancer drug candidates that employ linker technologies to enhance the accumulation and release of drug at the tumor. The company is developing its pipeline of oncology candidates at its laboratory facilities in Freiburg, Germany, through its LADR (linker activated drug release) technology platform, a discovery engine designed to leverage its expertise in albumin biology and linker technology for the development of anti-cancer therapies.

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