Other research analysts also recently issued research reports about the stock. S&P Equity Research dropped their price objective on shares of CytRx Corp. from $1.04 to $0.75 in a report on Tuesday, July 12th. Zacks Investment Research upgraded shares of CytRx Corp. from a hold rating to a buy rating and set a $0.75 price objective on the stock in a report on Tuesday, September 6th. Finally, Jefferies Group restated a hold rating and set a $0.75 price objective (down previously from $2.50) on shares of CytRx Corp. in a report on Friday, July 15th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $5.32.
CytRx Corp. (NASDAQ:CYTR) traded down 3.1313% during mid-day trading on Monday, reaching $0.5259. The company’s stock had a trading volume of 147,905 shares. The stock’s 50-day moving average is $0.58 and its 200-day moving average is $1.74. The firm’s market capitalization is $50.98 million. CytRx Corp. has a 12 month low of $0.52 and a 12 month high of $3.66.
CytRx Corp. (NASDAQ:CYTR) last posted its quarterly earnings data on Friday, July 29th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by $0.08. On average, equities analysts anticipate that CytRx Corp. will post ($0.71) EPS for the current year.
A number of hedge funds have recently bought and sold shares of CYTR. Bank of New York Mellon Corp boosted its stake in CytRx Corp. by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 201,596 shares of the company’s stock worth $450,000 after buying an additional 725 shares during the last quarter. Geode Capital Management LLC raised its position in CytRx Corp. by 0.8% in the first quarter. Geode Capital Management LLC now owns 351,694 shares of the company’s stock worth $942,000 after buying an additional 2,958 shares during the period. Teachers Advisors Inc. raised its position in CytRx Corp. by 11.4% in the second quarter. Teachers Advisors Inc. now owns 107,636 shares of the company’s stock worth $240,000 after buying an additional 11,030 shares during the period. BlackRock Investment Management LLC raised its position in CytRx Corp. by 5.3% in the second quarter. BlackRock Investment Management LLC now owns 244,913 shares of the company’s stock worth $546,000 after buying an additional 12,386 shares during the period. Finally, State Street Corp raised its position in CytRx Corp. by 1.4% in the second quarter. State Street Corp now owns 945,779 shares of the company’s stock worth $2,106,000 after buying an additional 12,877 shares during the period. 19.60% of the stock is currently owned by institutional investors and hedge funds.
About CytRx Corp.
CytRx Corporation is a biopharmaceutical research and development company specializing in oncology. The Company is focused on the clinical development of aldoxorubicin, its modified version of the chemotherapeutic agent, doxorubicin. It is engaged in Phase III trials for aldoxorubicin as a therapy for patients with soft tissue sarcoma (STS) whose tumors have progressed after treatment with chemotherapy.
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