Graybug Vision (NASDAQ:GRAY) Stock Price Down 8.7% – What’s Next?

Graybug Vision, Inc. (NASDAQ:GRAY)’s stock price traded down 8.7% during mid-day trading on Wednesday . The company traded as low as $0.5951 and last traded at $0.6046. 284,634 shares were traded during trading, an increase of 13,047% from the average session volume of 2,165 shares. The stock had previously closed at $0.6619.

Graybug Vision Price Performance

The firm has a market capitalization of $949,826.60, a price-to-earnings ratio of -0.35 and a beta of 1.20. The firm’s 50-day simple moving average is $0.64 and its 200 day simple moving average is $2.79.

About Graybug Vision

Graybug Vision, Inc is a clinical-stage biopharmaceutical company dedicated to developing innovative therapies for retinal diseases. The company’s proprietary Depot Technology Platform is designed to deliver sustained-release formulations of biologically active agents directly to the back of the eye, with the goal of reducing treatment burden and improving patient outcomes. Graybug’s lead product candidate, GB-102, is a long-acting formulation of sunitinib malate being investigated for the treatment of wet age-related macular degeneration (wet AMD).