PaxMedica Inc. (NASDAQ:PXMD) shares traded -1.18% lower at $2.51 on Wall Street last session.
PXMD stock price is now 25.17% away from the 50-day moving average and 3.10% away from the 200-day moving average. The market capitalization of the company currently stands at $30.60M.
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In other news, Derby Michael, Executive Chairman bought 95,000 shares of the company’s stock on Aug 30. The stock was bought for $498,750 at an average price of $5.25. Upon completion of the transaction, the Executive Chairman now directly owns 7,336,745 shares in the company, valued at $18.42 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 30, 10% Owner TardiMed Sciences LLC bought 95,000 shares of the business’s stock. A total of $498,750 was incurred on buying the stock at an average price of $5.25. This leaves the insider owning 7,336,745 shares of the company worth $18.42 million. A total of 76.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PXMD stock. A new stake in PaxMedica Inc. shares was purchased by JANE STREET GROUP, LLC during the first quarter worth $45,000. BANK OF MONTREAL /CAN/ invested $38,000 in shares of PXMD during the first quarter. In the first quarter, VIRTU FINANCIAL LLC acquired a new stake in PaxMedica Inc. valued at approximately $35,000. UBS GROUP AG acquired a new stake in PXMD for approximately $16,000. TOWER RESEARCH CAPITAL LLC (TRC) purchased a new stake in PXMD valued at around $5,000 in the second quarter. In total, there are 0 active investors with 0.50% ownership of the company’s stock.
PaxMedica Inc. (NASDAQ: PXMD) opened at $2.6700 on Friday. During the past 12 months, PaxMedica Inc. has had a low of $1.36 and a high of $10.48. As of last week, the company has a debt-to-equity ratio of 0.08, a current ratio of 1.70, and a quick ratio of 1.70. The fifty day moving average price for PXMD is $2.0167 and a two-hundred day moving average price translates $2.4354 for the stock.
The latest earnings results from PaxMedica Inc. (NASDAQ: PXMD) was released for Jun, 2022. The company reported revenue of $2.69 million for the quarter, compared to $1.72 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 57.14 percent.
PaxMedica Inc.(PXMD) Company Profile
PaxMedica, Inc., a clinical stage biopharmaceutical company, focuses on the development of anti-purinergic drug therapies (APT) for the treatment of disorders with intractable neurologic symptoms. The company’s lead product candidate is PAX-101, an intravenous formulation of suramin for various indications, including autism spectrum disorder, myalgic encephalomyelitis/chronic fatigue syndrome, long COVID-19 syndrome, and human african trypanosomiasis. It is also involved in developing PAX-102, an intranasal formulation of suramin for neurologic indications. The company was formerly known as Purinix Pharmaceuticals LLC and changed its name to PaxMedica, Inc. in April 2020. PaxMedica, Inc. was incorporated in 2018 and is based in Tarrytown, New York. PaxMedica, Inc. operates as a subsidiary of Tardimed Sciences LLC.
