Citius Pharmaceuticals Stock to Reverse Split on Tuesday, November 26th (NASDAQ:CTXR)

Citius Pharmaceuticals, Inc. (NASDAQ:CTXR)’s stock is going to reverse split on the morning of Tuesday, November 26th. The 1-25 reverse split was announced on Friday, November 22nd. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, November 25th.

Citius Pharmaceuticals Trading Down 19.0 %

CTXR traded down $0.03 during midday trading on Friday, reaching $0.13. The company’s stock had a trading volume of 16,080,649 shares, compared to its average volume of 1,653,007. Citius Pharmaceuticals has a 1 year low of $0.11 and a 1 year high of $1.07. The stock’s 50-day moving average is $0.40 and its 200-day moving average is $0.58. The firm has a market capitalization of $24.18 million, a price-to-earnings ratio of -0.54 and a beta of 1.66.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $4.00 target price on shares of Citius Pharmaceuticals in a report on Tuesday, November 12th.

Hedge Funds Weigh In On Citius Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of CTXR. Virtu Financial LLC purchased a new position in Citius Pharmaceuticals in the third quarter worth about $50,000. Geode Capital Management LLC boosted its holdings in shares of Citius Pharmaceuticals by 14.1% in the third quarter. Geode Capital Management LLC now owns 1,878,953 shares of the company’s stock worth $941,000 after buying an additional 232,656 shares during the last quarter. XTX Topco Ltd bought a new position in Citius Pharmaceuticals in the 3rd quarter worth $47,000. Miller Investment Management LP increased its holdings in Citius Pharmaceuticals by 99.3% in the 3rd quarter. Miller Investment Management LP now owns 99,640 shares of the company’s stock worth $50,000 after acquiring an additional 49,640 shares in the last quarter. Finally, Arkadios Wealth Advisors raised its position in shares of Citius Pharmaceuticals by 33.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 200,000 shares of the company’s stock valued at $100,000 after purchasing an additional 50,000 shares during the period. 16.88% of the stock is currently owned by hedge funds and other institutional investors.

Citius Pharmaceuticals Company Profile

Citius Pharmaceuticals, Inc, a late-stage pharmaceutical company, engages in the development and commercialization of critical care products focusing on oncology products, anti-infectives products in adjunct cancer care, prescription products, and stem cell therapy. It is developing five proprietary products comprising LYMPHIR, an engineered IL-2 diphtheria toxin fusion protein for the treatment of patients with persistent or recurrent cutaneous T-cell lymphoma, which is in Phase 3 clinical trial; Mino-Lok, an antibiotic lock solution to treat patients with catheter-related bloodstream infections by salvaging the infected catheter, which is in Phase 3 clinical trial; Halo-Lido, a corticosteroid-lidocaine topical formulation that intends to provide anti-inflammatory and anesthetic relief to persons suffering from hemorrhoids that is in clinical Phase 2b trial; Mino-Wrap, a liquifying gel-based wrap for reduction of tissue expander infections following breast reconstructive surgeries; and NoveCite, a mesenchymal stem cell therapy for the treatment of acute respiratory disease syndrome.