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.
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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