Pluri (NASDAQ:PLUR) Shares Down 1.6% – Here’s Why

Pluri Inc. (NASDAQ:PLUR) shares dropped 1.6% during mid-day trading on Monday . The stock traded as low as $3.01 and last traded at $3.06. Approximately 22,478 shares changed hands during mid-day trading, an increase of 278% from the average daily volume of 5,947 shares. The stock had previously closed at $3.11.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Pluri in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Pluri has an average rating of “Hold” and a consensus target price of $12.00.

Pluri Trading Up 8.7%

The firm has a fifty day moving average of $3.42 and a two-hundred day moving average of $3.69. The company has a market capitalization of $33.32 million, a PE ratio of -0.67 and a beta of 0.66.

Pluri (NASDAQ:PLUR) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.06). The business had revenue of $0.20 million during the quarter, compared to analysts’ expectations of $0.64 million.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Pluri stock. Jane Street Group LLC bought a new position in Pluri Inc. (NASDAQ:PLUR) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 10,928 shares of the company’s stock, valued at approximately $47,000. Jane Street Group LLC owned 0.14% of Pluri at the end of the most recent quarter. 16.59% of the stock is owned by hedge funds and other institutional investors.

About Pluri

Pluri (NASDAQ:PLUR) is a clinical-stage biotechnology company focused on the development and manufacturing of placental-derived cell therapy products. The company’s proprietary three-dimensional microcarrier expansion platform enables large-scale, off-the-shelf production of PLX (placental expanded) cells, which are being investigated for a range of acute and chronic conditions. Pluri’s approach seeks to combine the regenerative and immunomodulatory properties of stromal cells with a scalable manufacturing process that does not require patient-specific cell harvesting.

Pluri advances its pipeline through internally funded research programs and strategic collaborations with academic institutions and government agencies.