Milestone Scientific (NYSE:MLSS) Stock Price Down 2.6% – Here’s What Happened

Shares of Milestone Scientific Inc. (NYSE:MLSS) traded down 2.6% during trading on Tuesday . The company traded as low as $0.2802 and last traded at $0.2820. 51,898 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 218,905 shares. The stock had previously closed at $0.2895.

Milestone Scientific Price Performance

The stock has a 50-day moving average of $0.28 and a 200 day moving average of $0.33. The stock has a market capitalization of $22.17 million, a price-to-earnings ratio of -4.03 and a beta of 0.85.

Hedge Funds Weigh In On Milestone Scientific

An institutional investor recently raised its position in Milestone Scientific stock. Raymond James Financial Inc. raised its stake in shares of Milestone Scientific Inc. (NYSE:MLSS) by 416.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,000 shares of the company’s stock after buying an additional 50,000 shares during the quarter. Raymond James Financial Inc. owned about 0.08% of Milestone Scientific worth $39,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 5.79% of the company’s stock.

Milestone Scientific Company Profile

Milestone Scientific, Inc, listed on the New York Stock Exchange under the symbol MLSS, is a medical device company specializing in the development and commercialization of computer-controlled injection technologies for local anesthesia and pain management. The company’s proprietary systems are designed to enhance patient comfort, improve clinical outcomes and streamline the administration of anesthetics in dental and medical procedures. Through its precision delivery platforms, Milestone Scientific aims to set a new standard for minimally invasive injections.

At the core of Milestone Scientific’s product portfolio is the Single Tooth Anesthesia (STA) System, which uses Comunication Controlled Local Anesthetic Delivery (CCLAD) technology to provide targeted, atraumatic anesthesia for individual dental roots.