Bio-Path (NASDAQ:BPTH) Shares Up 15.5%

Bio-Path Holdings Inc (NASDAQ:BPTH)’s share price traded up 15.5% during mid-day trading on Wednesday . The company traded as high as $8.30 and last traded at $8.25, 459,600 shares traded hands during trading. A decline of 62% from the average session volume of 1,203,550 shares. The stock had previously closed at $7.14.

A number of research analysts have issued reports on the stock. ValuEngine lowered shares of Bio-Path from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Bio-Path from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Wednesday. Finally, HC Wainwright restated a “buy” rating and set a $25.00 price target (down previously from $28.00) on shares of Bio-Path in a research note on Monday.

The company has a debt-to-equity ratio of 0.02, a quick ratio of 13.85 and a current ratio of 13.85. The firm has a market cap of $23.79 million, a price-to-earnings ratio of -0.57 and a beta of 3.05. The stock’s 50 day simple moving average is $10.17 and its 200-day simple moving average is $11.98.

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Bio-Path by 10.3% during the 2nd quarter. Vanguard Group Inc. now owns 27,925 shares of the company’s stock valued at $374,000 after purchasing an additional 2,601 shares in the last quarter. BlackRock Inc. increased its stake in Bio-Path by 17.5% during the 2nd quarter. BlackRock Inc. now owns 46,879 shares of the company’s stock valued at $628,000 after purchasing an additional 6,978 shares in the last quarter. Finally, Morgan Stanley increased its stake in Bio-Path by 19,858.0% during the 2nd quarter. Morgan Stanley now owns 19,958 shares of the company’s stock valued at $267,000 after purchasing an additional 19,858 shares in the last quarter. Institutional investors and hedge funds own 6.13% of the company’s stock.

Bio-Path Company Profile (NASDAQ:BPTH)

Bio-Path Holdings, Inc operates as a clinical and preclinical stage oncology focused RNAi nano particle drug development company in the United States. The company develops products based on DNAbilize, a drug delivery and antisense technology that uses P-ethoxy, which is a deoxyribonucleic acid (DNA) backbone modification intended to protect the DNA from destruction.

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