Pharmaceutical firm Baudax Bio Inc (NASDAQ:BXRX) has not had a great time in the markets in the past week and due to a steady selloff from investors, it has tanked by as much as 11%. Such a decline can also prove to be an opportunity in certain cases and hence, it may be a sound move to take a closer look into it.
Trading Data
On Wednesday, BXRX stock fell 2.30% to $0.1964 with more than 5.84 million shares, compared to its average volume of 2.56 million shares. The stock has moved within a range of $0.1900 – 0.2149 after opening trade at $0.19.
Recent News
There has been no news about the company for quite some time and the last time any news emerged about it was back on December 31, 2021. At the time, Baudax made an announcement with regards to the fact that the Compensation Committee at its Board of Directors had given the approval for the inducement grants in relation to stock options.
The grant has been made to a total of 14 employees, who had been recently hired. As per the provisions of the stock options, the options will allow the holders to pick up an aggregate of as many as 109250 shares in the company’s common stock and in addition to that, restricted stock units to the tune of 31900 shares are also available. It was a significant announcement but it is unlikely that it had any effect on the selloff over the past week.
Technical Data
BXRX stock is below the 20-Day and 50-Day Moving averages of $0.24 and $0.34 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.63. The stock is down 43% in the past month.
