PainReform (NASDAQ:PRFX) Shares Down 3.6% – Time to Sell?

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

Wall Street Analyst Weigh In

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

PainReform Price Performance

The firm has a market cap of $481,400.00, a price-to-earnings ratio of -0.02 and a beta of 0.74. The business’s 50-day moving average price is $3.18 and its two-hundred day moving average price is $2.45.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in PainReform stock. Armistice Capital LLC increased its holdings in PainReform Ltd. (NASDAQ:PRFX) by 76.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 276,000 shares of the company’s stock after purchasing an additional 120,000 shares during the period. Armistice Capital LLC owned 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.

PainReform Company Profile

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.