SciSparc (NASDAQ:SPRC) Stock Falls 14.5% – Here’s Why

SciSparc Ltd. (NASDAQ:SPRC) traded down 14.5% on Wednesday. The company traded as low as $0.5068 and last traded at $0.5126. 226,750 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 4,215,168 shares. The stock had previously closed at $0.5994.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of SciSparc in a report on Friday, August 21st. Wall Street Zen upgraded SciSparc to a “hold” rating in a report on Saturday, July 18th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

SciSparc Stock Down 14.5%

The stock has a 50 day simple moving average of $3.80 and a 200-day simple moving average of $5.48.

SciSparc (NASDAQ:SPRC) last issued its earnings results on Friday, August 14th. The company reported ($4.85) earnings per share for the quarter. The company had revenue of $0.14 million for the quarter.

About SciSparc

SciSparc Ltd. (NASDAQ: SPRC) is an Israel-based clinical-stage specialty pharmaceutical company focused on developing therapies based on cannabinoid molecules. The company’s research is aimed primarily at central nervous system disorders and other conditions for which existing treatment options may be limited.

SciSparc’s pipeline has included investigational products such as SCI-110, a cannabinoid-based combination therapy being studied for conditions including Tourette syndrome and obstructive sleep apnea, as well as programs addressing Alzheimer’s disease agitation and pain.