Lipella Pharmaceuticals (NASDAQ:LIPO) Shares Down 12.6% – Should You Sell?

Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) shares fell 12.6% during mid-day trading on Thursday . The stock traded as low as $2.25 and last traded at $2.36. 279,255 shares were traded during trading, a decline of 61% from the average session volume of 724,360 shares. The stock had previously closed at $2.70.

Lipella Pharmaceuticals Stock Performance

The company has a market cap of $10.55 million, a P/E ratio of -0.58 and a beta of 0.44. The firm has a 50 day moving average price of $2.63 and a 200-day moving average price of $2.78.

Lipella Pharmaceuticals (NASDAQ:LIPO) last announced its earnings results on Wednesday, May 14th. The company reported ($0.64) earnings per share (EPS) for the quarter. The company had revenue of $0.13 million for the quarter. Lipella Pharmaceuticals had a negative return on equity of 224.08% and a negative net margin of 988.83%.

Institutional Trading of Lipella Pharmaceuticals

A hedge fund recently bought a new stake in Lipella Pharmaceuticals stock. Virtu Financial LLC bought a new stake in shares of Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 13,310 shares of the company’s stock, valued at approximately $41,000. Virtu Financial LLC owned 1.10% of Lipella Pharmaceuticals as of its most recent SEC filing. Institutional investors and hedge funds own 74.31% of the company’s stock.

About Lipella Pharmaceuticals

Lipella Pharmaceuticals Inc, a biotechnology company, focuses on developing drugs by reformulating the active agents in existing generic drugs and optimizing these reformulations for various applications. The company develops LP-10, a formulation of tacrolimus that has completed Phase 2a clinical trial for patients with radiation-induced hemorrhagic cystitis; LP-310, a formulation of tacrolimus for the treatment of oral lichen planus; and LP-410, an oral liposomal formulation of tacrolimus for the treatment of oral graft-versus-host disease (GVHD).