Tharimmune Inc (NASDAQ: THAR) is experiencing a decline in its stock price, currently trading at $0.19, representing a decrease of 9.7% during Monday’s trading session. This drop in value follows the company’s recent announcement of a 1-for-25 reverse stock split. The split is set to take effect on November 20, 2023, and was approved by stockholders in October. The primary objective of this action is to meet Nasdaq’s minimum bid price requirement of $1.00 per share, ensuring the company’s continued listing on the exchange. However, Tharimmune has expressed uncertainty regarding whether this measure alone will guarantee compliance.
Following the reverse stock split, Tharimmune will have approximately 700,474 shares. Historical data from Benzinga Pro reveals that THAR’s 52-week high stands at $0.38, while its 52-week low is $0.14.
Tharimmune Inc. is a clinical-stage biotechnology company specializing in the development of therapeutic candidates for rare, inflammatory, and oncologic conditions. Its pre-clinical immuno-oncology pipeline encompasses a range of product candidates aimed at treating liver-related and other pruritogenic inflammatory conditions, solid tumors, and programmed cell death protein 1 (PD-1).
As of November 17, 2023, the stock price of Tharimmune Inc (THAR) was recorded at $0.21. The company currently holds a market capitalization of $3.677M, with an average trading volume of 5.82M shares over the past ten days.
In conclusion, Tharimmune Inc (THAR) is witnessing a decline in its stock price due to the announcement of a 1-for-25 reverse stock split. This strategic move is intended to fulfill Nasdaq’s minimum bid price requirement for continued listing.
Updated on: 30/11/2023
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THAR Stock Performance on November 20, 2023: A Closer Look at Earnings and Prospects in the Biotechnology Industry
THAR Stock Performance on November 20, 2023:
On November 20, 2023, THAR stock had a previous close of $0.21. The stock opened at $0.20 and had a day’s range of $0.17 to $0.20. The trading volume for the day was 32,747.
THAR operates in the health technology sector, specifically in the biotechnology industry.
Looking at the financials, THAR experienced a significant decline in earnings growth last year, with a negative growth rate of -285.53%. However, there is no information available regarding earnings growth for the current year. Looking ahead, the company is expected to have a modest earnings growth rate of +1.00% over the next five years.
The lack of information on revenue and earnings growth raises some concerns about the company’s financial performance.
THAR is scheduled to report its next earnings on November 29, 2023. This upcoming announcement could provide further insights into the company’s financial performance and potentially impact the stock price.
In summary, THAR stock had a relatively uneventful day on November 20, 2023, with a slight decrease in the opening price compared to the previous close. The lack of available financial data and information on competitors makes it challenging to fully assess the stock’s performance. Investors should closely monitor future earnings reports and any updates from the company to gain a better understanding of THAR’s prospects in the biotechnology industry.
THAR Stock Analysis: Median Price Target of $4.00 Signals Potential Growth, Investors Advised to Proceed with Caution
THAR stock, belonging to Tharimmune Inc, has a median price target of $4.00, representing a substantial increase from its current price. The company’s upcoming financial report will provide insights into its performance, potentially influencing the stock’s future trajectory. Investors should exercise caution and perform their due diligence before making any investment decisions.