Synaptogenix (NASDAQ:SNPX) Shares Down 6.2%

Synaptogenix, Inc. (NASDAQ:SNPXGet Rating) shares dropped 6.2% during mid-day trading on Tuesday . The stock traded as low as $5.90 and last traded at $6.10. Approximately 80,249 shares traded hands during trading, a decline of 29% from the average daily volume of 112,798 shares. The stock had previously closed at $6.50.

Separately, Maxim Group initiated coverage on shares of Synaptogenix in a research note on Tuesday, April 12th. They set a “buy” rating and a $14.00 target price on the stock.

The business’s 50 day simple moving average is $6.19 and its 200 day simple moving average is $7.66.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNPX. Orion Capital Management LLC bought a new stake in Synaptogenix during the 4th quarter worth approximately $34,000. Marshall Wace LLP bought a new stake in shares of Synaptogenix during the fourth quarter valued at approximately $36,000. State Street Corp bought a new stake in shares of Synaptogenix during the fourth quarter valued at approximately $161,000. Millennium Management LLC bought a new stake in shares of Synaptogenix during the third quarter valued at approximately $178,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Synaptogenix during the third quarter valued at approximately $213,000. Institutional investors own 11.23% of the company’s stock.

Synaptogenix Company Profile (NASDAQ:SNPX)

Synaptogenix, Inc operates as a biopharmaceutical company with product candidates in pre-clinical and clinical development. It focuses on developing a product platform based upon a drug candidate called Bryostatin-1 for the treatment of Alzheimer's disease. The company is also evaluating therapeutic applications of bryostatin for other neurodegenerative or cognitive diseases and dysfunctions, such as fragile X syndrome, multiple sclerosis, and Niemann-pick type C disease.

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