Eupraxia Pharmaceuticals (NASDAQ:EPRX) Trading Down 1.7% – Here’s Why

Shares of Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) fell 1.7% during mid-day trading on Monday . The company traded as low as $4.18 and last traded at $4.08. 3,152 shares traded hands during trading, a decline of 81% from the average session volume of 16,604 shares. The stock had previously closed at $4.15.

Wall Street Analyst Weigh In

Separately, Craig Hallum initiated coverage on Eupraxia Pharmaceuticals in a research report on Friday, February 21st. They issued a “buy” rating and a $12.00 price objective on the stock.

Eupraxia Pharmaceuticals Stock Performance

The firm has a market capitalization of $143.30 million and a P/E ratio of -5.58. The stock’s 50 day simple moving average is $3.44 and its 200 day simple moving average is $3.08.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can lifted its holdings in shares of Eupraxia Pharmaceuticals by 15.2% in the 4th quarter. Bank of Montreal Can now owns 56,750 shares of the company’s stock worth $178,000 after buying an additional 7,500 shares during the period. Millennium Management LLC bought a new stake in shares of Eupraxia Pharmaceuticals in the fourth quarter valued at about $31,000. Finally, Raymond James Financial Inc. purchased a new stake in Eupraxia Pharmaceuticals in the fourth quarter worth about $37,000.

About Eupraxia Pharmaceuticals

Eupraxia Pharmaceuticals Inc is a clinical-stage biotechnology company. It focused on the development of locally delivered, extended-release products that have the potential to address therapeutic areas with high unmet medical need. Th company’s lead product candidate includes EP-104IAR, for the treatment of pain due to osteoarthritis of the knee.