Citius Pharmaceuticals (CTXR) Sees Strong Trading Volume

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Shares of Citius Pharmaceuticals Inc (NASDAQ:CTXR) saw unusually-high trading volume on Friday . Approximately 864,086 shares were traded during trading, an increase of 353% from the previous session’s volume of 190,625 shares.The stock last traded at $1.38 and had previously closed at $1.27.

CTXR has been the subject of several recent analyst reports. Zacks Investment Research downgraded Citius Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, February 18th. HC Wainwright reiterated a “buy” rating and set a $3.00 price target on shares of Citius Pharmaceuticals in a research note on Thursday, February 7th.

In related news, insider Myron Z. Holubiak purchased 129,450 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was bought at an average price of $1.55 per share, for a total transaction of $200,647.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 58.52% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTXR. Morgan Stanley bought a new stake in shares of Citius Pharmaceuticals during the 1st quarter worth about $29,000. Renaissance Technologies LLC bought a new stake in shares of Citius Pharmaceuticals during the 3rd quarter worth about $100,000. Finally, Baker Avenue Asset Management LP bought a new stake in shares of Citius Pharmaceuticals during the 1st quarter worth about $120,000. Institutional investors own 4.20% of the company’s stock.

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Citius Pharmaceuticals Company Profile (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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