Citius Pharmaceuticals (NASDAQ:CTXR) Shares Gap Down – Here’s Why

Citius Pharmaceuticals, Inc. (NASDAQ:CTXR)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $4.15, but opened at $3.60. Citius Pharmaceuticals shares last traded at $3.61, with a volume of 360,299 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CTXR shares. HC Wainwright reaffirmed a “buy” rating and set a $100.00 target price on shares of Citius Pharmaceuticals in a research note on Tuesday, November 12th. D. Boral Capital restated a “hold” rating on shares of Citius Pharmaceuticals in a research report on Friday, November 22nd.

Citius Pharmaceuticals Trading Down 13.3 %

The company has a 50 day simple moving average of $9.15 and a 200 day simple moving average of $14.13.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CTXR. Point72 DIFC Ltd acquired a new stake in Citius Pharmaceuticals during the 2nd quarter worth $29,000. XTX Topco Ltd purchased a new position in shares of Citius Pharmaceuticals in the third quarter worth about $47,000. Miller Investment Management LP lifted its stake in shares of Citius Pharmaceuticals by 99.3% in the third quarter. Miller Investment Management LP now owns 99,640 shares of the company’s stock worth $50,000 after buying an additional 49,640 shares in the last quarter. Virtu Financial LLC acquired a new position in Citius Pharmaceuticals during the third quarter worth about $50,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Citius Pharmaceuticals during the 2nd quarter valued at about $69,000. 16.88% of the stock is owned by institutional investors and hedge funds.

About Citius Pharmaceuticals

Citius Pharmaceuticals, Inc, a late-stage pharmaceutical company, engages in the development and commercialization of critical care products focusing on oncology products, anti-infectives products in adjunct cancer care, prescription products, and stem cell therapy. It is developing five proprietary products comprising LYMPHIR, an engineered IL-2 diphtheria toxin fusion protein for the treatment of patients with persistent or recurrent cutaneous T-cell lymphoma, which is in Phase 3 clinical trial; Mino-Lok, an antibiotic lock solution to treat patients with catheter-related bloodstream infections by salvaging the infected catheter, which is in Phase 3 clinical trial; Halo-Lido, a corticosteroid-lidocaine topical formulation that intends to provide anti-inflammatory and anesthetic relief to persons suffering from hemorrhoids that is in clinical Phase 2b trial; Mino-Wrap, a liquifying gel-based wrap for reduction of tissue expander infections following breast reconstructive surgeries; and NoveCite, a mesenchymal stem cell therapy for the treatment of acute respiratory disease syndrome.