One of the stocks to have continued to slide over the course of the past month is that of Agile Therapeutics Inc (NASDAQ:AGRX) and the trend continued last Friday. The Agile stock went down by another 5% last this past Friday and that took its losses for the past month to as much as 20%.
Market Action:
On Friday, AGRX stock lost 5.06% at $0.8064 with more than 3.02 million shares, compared to its average volume of 1.57 million shares. The stock has moved within a range of $0.7619 – 0.8392 after opening the trade at $0.8343.
Recent Development
While there was no news about the company on Friday, it might be a good idea for investors to perhaps take a look about a development from earlier on this month in relation to the women’s healthcare firm.
On October 8, Agile made an announcement regarding the pricing of the 26,666,648 shares of the common stock that it was going to offer at an underwritten public offering. In addition to that, warrants which allow the holders to pick up 13,333,324 shares of the common stock are also going to be offered.
One unit of the offering is going to be made up of one share of the Agile common stock and half of a warrant. The price of the said unit was set at $0.85 each by the company. While the stock continues to slide, investors could keep an eye out for any recovery.
Traders Note:
AGRX stock is trading below the 200-Day and 50-Day Moving averages of $1.72 and $1 respectively. The stock is down 33% in the past month.
