Citius Pharmaceuticals (NASDAQ:CTXR) Sees Strong Trading Volume

Citius Pharmaceuticals Inc (NASDAQ:CTXR) shares saw unusually-high trading volume on Thursday . Approximately 1,889,606 shares were traded during trading, an increase of 267% from the previous session’s volume of 514,682 shares.The stock last traded at $1.15 and had previously closed at $0.93.

CTXR has been the subject of several research analyst reports. ValuEngine upgraded shares of Citius Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Zacks Investment Research upgraded Citius Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd.

The firm has a market capitalization of $27.48 million, a price-to-earnings ratio of -0.98 and a beta of 1.05. The stock has a fifty day moving average of $0.74 and a two-hundred day moving average of $0.83.

A hedge fund recently bought a new stake in Citius Pharmaceuticals stock. Sabby Management LLC acquired a new stake in Citius Pharmaceuticals Inc (NASDAQ:CTXR) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 845,432 shares of the company’s stock, valued at approximately $640,000. Citius Pharmaceuticals accounts for 0.3% of Sabby Management LLC’s investment portfolio, making the stock its 18th largest position. Sabby Management LLC owned about 3.83% of Citius Pharmaceuticals at the end of the most recent reporting period. 12.65% of the stock is owned by institutional investors and hedge funds.

About Citius Pharmaceuticals (NASDAQ:CTXR)

Citius Pharmaceuticals, Inc, a specialty pharmaceutical company, develops and commercializes critical care products. It primarily focuses on developing anti-infective, cancer care, and prescription products. The company develops Mino-Lok, which is in Phase III clinical trials for the treatment and salvage of infected central venous catheters in patients with catheter related bloodstream infections; and Hydro-Lido, a topical formulation of hydrocortisone and lidocaine that is intended for the treatment of hemorrhoids.

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