In yesterday’s Wall Street session, PaxMedica Inc. (NASDAQ:PXMD) shares traded at $0.73, down -15.63% from the previous session.
PXMD stock price is now -35.05% away from the 50-day moving average and -61.40% away from the 200-day moving average. The market capitalization of the company currently stands at $10.84M.
In other news, Weisman Howard J., Chief Executive Officer sold 3,495 shares of the company’s stock on Mar 09. The stock was sold for $5,033 at an average price of $1.44. Upon completion of the transaction, the Chief Executive Officer now directly owns 541,633 shares in the company, valued at $0.4 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 09, Chief Operating Officer Rome Zachary sold 3,371 shares of the business’s stock. A total of $4,854 was realized by selling the stock at an average price of $1.44. This leaves the insider owning 288,452 shares of the company worth $0.21 million. Insiders disposed of 229,961 shares of company stock worth roughly $0.17 million over the past 1 year. 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 VANGUARD GROUP INC during the first quarter worth $40,000. GEODE CAPITAL MANAGEMENT, LLC invested $22,000 in shares of PXMD during the first quarter. In the first quarter, SUSQUEHANNA INTERNATIONAL GROUP, LLP acquired a new stake in PaxMedica Inc. valued at approximately $10,000.
Tuesday morning saw PaxMedica Inc. (NASDAQ: PXMD) opened at $0.7800. During the past 12 months, PaxMedica Inc. has had a low of $0.74 and a high of $10.48. As of last week, the company has a debt-to-equity ratio of 0.60, a current ratio of 2.60, and a quick ratio of 2.60. The fifty day moving average price for PXMD is $1.1171 and a two-hundred day moving average price translates $1.8797 for the stock.
The latest earnings results from PaxMedica Inc. (NASDAQ: PXMD) was released for Mar, 2023. The company reported revenue of $4.04 million for the quarter, compared to $2.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 101.35 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 (HAT). It also develops PAX-102, an intranasal formulation of suramin for neurologic indications; and HAT-301 for the treatment of stage 1 East African HAT. The company has a research collaboration with PoloMar Health to investigate the use of emodin in a clinical program as a potential treatment for patients with autism spectrum disorder 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.
