Bio-Path (BPTH) Stock Price Down 9.1%
Bio-Path Holdings, Inc. (NASDAQ:BPTH)’s share price was down 9.1% during mid-day trading on Tuesday . The stock traded as low as $0.20 and last traded at $0.20. Approximately 819,255 shares traded hands during mid-day trading, an increase of 86% from the average daily volume of 440,060 shares. The stock had previously closed at $0.22.
Several equities analysts have recently issued reports on BPTH shares. HC Wainwright reiterated a “buy” rating and issued a $1.50 price target (down previously from $4.50) on shares of Bio-Path in a research note on Monday, November 13th. ValuEngine lowered Bio-Path from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Finally, reduced their price objective on Bio-Path from $4.50 to $1.50 and set a “buy” rating on the stock in a research report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $1.67.
The firm has a market capitalization of $22.68, a PE ratio of -2.86 and a beta of 2.92.
A number of hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC grew its position in Bio-Path by 0.3% during the 2nd quarter. HighTower Advisors LLC now owns 1,267,070 shares of the company’s stock worth $492,000 after acquiring an additional 4,000 shares during the last quarter. Sabby Management LLC lifted its holdings in Bio-Path by 73.2% during the 2nd quarter. Sabby Management LLC now owns 1,190,886 shares of the company’s stock worth $462,000 after buying an additional 503,488 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Bio-Path by 5,474.3% during the 2nd quarter. Legal & General Group Plc now owns 1,773,799 shares of the company’s stock worth $681,000 after buying an additional 1,741,978 shares during the period. Institutional investors and hedge funds own 9.36% of the company’s stock.
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Bio-Path Holdings, Inc is a clinical and preclinical stage oncology focused antisense drug development company. The Company utilizes a technology that achieves systemic delivery for target specific protein inhibition for any gene product that is over-expressed in disease. Its drug delivery and antisense technology, DNAbilize, is a platform that uses P-ethoxy, a deoxyribonucleic acid backbone modification.
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