Synairgen (LON:SNG) Trading Up 6.3% – Here’s Why

Shares of Synairgen plc (LON:SNG) rose 6.3% during mid-day trading on Friday . The stock traded as high as GBX 2 ($0.02) and last traded at GBX 1.97 ($0.02). Approximately 910,053 shares changed hands during trading, a decline of 62% from the average daily volume of 2,394,704 shares. The stock had previously closed at GBX 1.85 ($0.02).

Synairgen Price Performance

The company’s 50-day simple moving average is GBX 3.41 and its 200-day simple moving average is GBX 3.88. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.77 and a quick ratio of 6.35. The stock has a market capitalization of £5.09 million, a price-to-earnings ratio of -84.33 and a beta of -2.23.

About Synairgen

Synairgen is a respiratory drug discovery and development company founded by University of Southampton Professors Stephen Holgate, Donna Davies and Ratko Djukanovic. The business, focused primarily on lung viral defence in asthma and COPD, uses its differentiating human biology BioBank platform and world-renowned international academic KOL network to discover and develop novel therapies for respiratory disease.

Synairgen is conducting a double blind, placebo-controlled clinical trial in COVID-19 patients (SG016).