StockNews.com initiated coverage on shares of Lipocine (NASDAQ:LPCN – Free Report) in a research report sent to investors on Friday. The firm issued a sell rating on the specialty pharmaceutical company’s stock.
Lipocine Trading Down 2.3 %
Shares of NASDAQ LPCN opened at $3.81 on Friday. The firm has a 50 day moving average of $3.53 and a 200 day moving average of $3.27. The firm has a market capitalization of $20.25 million, a price-to-earnings ratio of -1.21 and a beta of 1.05. Lipocine has a 12-month low of $2.31 and a 12-month high of $8.33.
Hedge Funds Weigh In On Lipocine
A number of hedge funds have recently modified their holdings of LPCN. XTX Topco Ltd bought a new position in shares of Lipocine in the first quarter worth approximately $54,000. Renaissance Technologies LLC boosted its position in shares of Lipocine by 474.5% in the second quarter. Renaissance Technologies LLC now owns 81,006 shares of the specialty pharmaceutical company’s stock worth $65,000 after purchasing an additional 66,906 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Lipocine by 524.6% in the first quarter. Goldman Sachs Group Inc. now owns 88,615 shares of the specialty pharmaceutical company’s stock worth $121,000 after purchasing an additional 74,428 shares during the period. Millennium Management LLC bought a new position in shares of Lipocine in the second quarter worth approximately $160,000. Finally, State Street Corp boosted its position in shares of Lipocine by 7.5% in the first quarter. State Street Corp now owns 327,405 shares of the specialty pharmaceutical company’s stock worth $449,000 after purchasing an additional 22,788 shares during the period. 8.99% of the stock is currently owned by institutional investors.
Lipocine Inc, a clinical-stage biopharmaceutical company, engages in the research and development for the delivery of drugs for the treatment of central nervous system (CNS) disorders. Its lead product candidate is TLANDO, an oral testosterone replacement therapy (TRT) comprising testosterone undecanoate.
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