Lipella Pharmaceuticals (NASDAQ:LIPO) Shares Down 12.6% – Time to Sell?

Lipella Pharmaceuticals Inc. (NASDAQ:LIPO)’s stock price dropped 12.6% on Thursday . The stock traded as low as $2.25 and last traded at $2.36. Approximately 279,255 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 724,360 shares. The stock had previously closed at $2.70.

Lipella Pharmaceuticals Price Performance

The firm has a 50 day simple moving average of $2.62 and a two-hundred day simple moving average of $2.78. The stock has a market cap of $7.38 million, a price-to-earnings ratio of -0.40 and a beta of 0.44.

Lipella Pharmaceuticals (NASDAQ:LIPO) last released its earnings results on Wednesday, May 14th. The company reported ($0.64) earnings per share for the quarter. Lipella Pharmaceuticals had a negative net margin of 988.83% and a negative return on equity of 224.08%. The company had revenue of $0.13 million during the quarter.

Institutional Investors Weigh In On Lipella Pharmaceuticals

An institutional investor recently bought a new position in Lipella Pharmaceuticals stock. Virtu Financial LLC purchased a new position in shares of Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,310 shares of the company’s stock, valued at approximately $41,000. Virtu Financial LLC owned 1.10% of Lipella Pharmaceuticals at the end of the most recent reporting period. 74.31% of the stock is currently owned by hedge funds and other institutional investors.

Lipella Pharmaceuticals Company Profile

Lipella Pharmaceuticals Inc, a biotechnology company, focuses on developing drugs by reformulating the active agents in existing generic drugs and optimizing these reformulations for various applications. The company develops LP-10, a formulation of tacrolimus that has completed Phase 2a clinical trial for patients with radiation-induced hemorrhagic cystitis; LP-310, a formulation of tacrolimus for the treatment of oral lichen planus; and LP-410, an oral liposomal formulation of tacrolimus for the treatment of oral graft-versus-host disease (GVHD).