PainReform (NASDAQ:PRFX) Trading Down 3.6% – Here’s Why

PainReform Ltd. (NASDAQ:PRFX) traded down 3.6% during trading on Thursday . The stock traded as low as $3.12 and last traded at $3.24. 149,983 shares were traded during trading, a decline of 82% from the average session volume of 824,289 shares. The stock had previously closed at $3.36.

Analyst Ratings Changes

Separately, Maxim Group restated a “hold” rating on shares of PainReform in a research note on Thursday, October 24th.

PainReform Trading Down 3.6 %

The company has a market cap of $469,800.00, a price-to-earnings ratio of -0.02 and a beta of 0.74. The business’s 50 day moving average price is $3.15 and its 200-day moving average price is $2.43.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in PainReform stock. Armistice Capital LLC grew its position in PainReform Ltd. (NASDAQ:PRFX) by 76.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 276,000 shares of the company’s stock after purchasing an additional 120,000 shares during the quarter. Armistice Capital LLC owned about 13.60% of PainReform worth $132,000 as of its most recent SEC filing. Institutional investors and hedge funds own 37.28% of the company’s stock.

About PainReform

PainReform Ltd., a clinical stage specialty pharmaceutical company, focuses on the reformulation of established therapeutics and provides an extended period of post-surgical pain relief in Israel. It develops PRF-110, a viscous clear oil-based solution that is instilled directly into the surgical wound to provide localized and extended post-operative analgesia, as well as in Phase 3 clinical trial for pain treatment of patients undergoing bunionectomy and second trial for pain treatment of hernia repair operations.