Midatech Pharma (NASDAQ:MTP) Stock Price Down 14.7%

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Midatech Pharma plc (NASDAQ:MTP)’s stock price was down 14.7% on Tuesday . The company traded as low as $2.29 and last traded at $2.37. Approximately 1,181,600 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 1,291,211 shares. The stock had previously closed at $2.78.

The stock has a 50-day simple moving average of $2.52 and a two-hundred day simple moving average of $2.10.

A number of large investors have recently modified their holdings of the business. Morgan Stanley purchased a new stake in shares of Midatech Pharma during the 3rd quarter valued at about $106,000. Renaissance Technologies LLC grew its stake in shares of Midatech Pharma by 18.2% during the 4th quarter. Renaissance Technologies LLC now owns 179,500 shares of the company’s stock valued at $336,000 after acquiring an additional 27,700 shares during the period. Finally, Wedbush Securities Inc. bought a new position in shares of Midatech Pharma during the 3rd quarter valued at approximately $25,000. 2.27% of the stock is owned by institutional investors and hedge funds.

About Midatech Pharma (NASDAQ:MTP)

Midatech Pharma plc focuses on the research and development of oncology and rare disease products in the United Kingdom, rest of Europe, and internationally. The company is developing MTD201, a long acting dose of Octreotide for the treatment of acromegaly and neuroendocrine tumors; and MTX110, a direct delivery treatment for diffuse intrinsic pontine glioma.

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