PainReform (NASDAQ:PRFX) Stock Price Down 4.6% – What’s Next?

PainReform Ltd. (NASDAQ:PRFX) shares dropped 4.6% during mid-day trading on Friday . The company traded as low as $2.05 and last traded at $2.09. Approximately 24,438 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 1,099,296 shares. The stock had previously closed at $2.19.

PainReform Price Performance

The firm has a market cap of $1.83 million, a P/E ratio of -0.01 and a beta of 0.72. The stock’s 50-day simple moving average is $2.90 and its two-hundred day simple moving average is $2.98.

Institutional Trading of PainReform

A hedge fund recently bought a new stake in PainReform stock. Apollon Wealth Management LLC purchased a new position in shares of PainReform Ltd. (NASDAQ:PRFX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,917 shares of the company’s stock, valued at approximately $43,000. Apollon Wealth Management LLC owned about 9.23% of PainReform as of its most recent filing with the Securities and Exchange Commission. Institutional investors 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.