Biodexa Pharmaceuticals (NASDAQ:BDRX) Stock Price Down 2% – What’s Next?

Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX)’s stock price traded down 2% during mid-day trading on Friday . The company traded as low as $3.32 and last traded at $3.36. 28,844 shares changed hands during trading, an increase of 6% from the average session volume of 27,233 shares. The stock had previously closed at $3.43.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Weiss Ratings downgraded Biodexa Pharmaceuticals from a “sell (e+)” rating to a “sell (e)” rating in a report on Wednesday. Wall Street Zen downgraded Biodexa Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, March 30th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Biodexa Pharmaceuticals Stock Performance

The company has a 50-day simple moving average of $3.52 and a two-hundred day simple moving average of $9.43.

Biodexa Pharmaceuticals (NASDAQ:BDRX) last released its quarterly earnings data on Friday, March 27th. The company reported $3.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $3.53.

Institutional Trading of Biodexa Pharmaceuticals

A hedge fund recently bought a new stake in Biodexa Pharmaceuticals stock. Sabby Management LLC purchased a new position in shares of Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 190,658 shares of the company’s stock, valued at approximately $433,000. Biodexa Pharmaceuticals comprises about 0.6% of Sabby Management LLC’s investment portfolio, making the stock its 10th largest holding. Sabby Management LLC owned approximately 28.04% of Biodexa Pharmaceuticals as of its most recent filing with the SEC. Institutional investors and hedge funds own 17.51% of the company’s stock.

About Biodexa Pharmaceuticals

Biodexa Pharmaceuticals Plc, a clinical stage biopharmaceutical company, focuses on developing a pipeline of products for the treatment of Type 1 diabetes and rare/orphan cancers of the brain. Its lead product candidate Tolimidone, a selective activator of the lyn kinase enzyme, currently under Phase II studies for the treatment of Type 1 diabetes. The company is also developing MTX110, which is currently in Phase I studies for the treatment of diffuse intrinsic recurrent glioblastoma, diffuse midline glioma, and medulloblastoma; and MTD217, a program centered around a water-soluble drug formulation that can be easily infused or injected simultaneously, or sequentially, directly into the cancer microenvironment, currently under preclinical studies for the treatment of leptomeningeal disease.