PainReform (NASDAQ:PRFX) Shares Down 3.6% – Time to Sell?

Shares of PainReform Ltd. (NASDAQ:PRFX) dropped 3.6% on Thursday . The stock traded as low as $3.12 and last traded at $3.24. Approximately 149,983 shares were traded during trading, a decline of 82% from the average daily volume of 824,289 shares. The stock had previously closed at $3.36.

Wall Street Analyst Weigh In

Separately, Maxim Group reissued a “hold” rating on shares of PainReform in a research report on Thursday, October 24th.

PainReform Trading Up 2.5 %

The company has a market capitalization of $481,400.00, a PE ratio of -0.02 and a beta of 0.74. The company’s 50 day moving average price is $3.18 and its 200-day moving average price is $2.45.

Institutional Investors Weigh In On PainReform

An institutional investor recently raised its position in PainReform stock. Armistice Capital LLC raised its position in PainReform Ltd. (NASDAQ:PRFX) by 76.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 276,000 shares of the company’s stock after purchasing an additional 120,000 shares during the quarter. Armistice Capital LLC owned 13.60% of PainReform worth $132,000 at the end of the most recent quarter. 37.28% of the stock is owned by hedge funds and other institutional investors.

About PainReform

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.