Lipocine (NASDAQ:LPCN) Shares Cross Below Two Hundred Day Moving Average of $0.96

Shares of Lipocine Inc. (NASDAQ:LPCNGet Rating) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.96 and traded as low as $0.53. Lipocine shares last traded at $0.55, with a volume of 197,570 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Lipocine in a report on Friday. They issued a “buy” rating on the stock.

Lipocine Stock Performance

The stock has a fifty day simple moving average of $0.71 and a two-hundred day simple moving average of $0.96. The stock has a market cap of $48.33 million, a price-to-earnings ratio of 13.65 and a beta of 0.49.

Lipocine (NASDAQ:LPCNGet Rating) last issued its earnings results on Monday, August 8th. The specialty pharmaceutical company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). The business had revenue of $0.50 million during the quarter, compared to analyst estimates of $0.30 million. Equities analysts expect that Lipocine Inc. will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lipocine

Several hedge funds have recently modified their holdings of LPCN. Carson Advisory Inc. acquired a new stake in shares of Lipocine during the 2nd quarter valued at $42,000. XTX Topco Ltd acquired a new stake in shares of Lipocine during the 1st quarter valued at $54,000. Bailard Inc. acquired a new stake in shares of Lipocine during the 2nd quarter valued at $60,000. Renaissance Technologies LLC boosted its holdings in shares of Lipocine by 474.5% during the 2nd quarter. Renaissance Technologies LLC now owns 81,006 shares of the specialty pharmaceutical company’s stock valued at $65,000 after acquiring an additional 66,906 shares in the last quarter. Finally, Aaron Wealth Advisors LLC boosted its holdings in shares of Lipocine by 23.4% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 145,045 shares of the specialty pharmaceutical company’s stock valued at $116,000 after acquiring an additional 27,493 shares in the last quarter. Institutional investors and hedge funds own 13.45% of the company’s stock.

About Lipocine

(Get Rating)

Lipocine Inc, a clinical-stage biopharmaceutical company, focuses on the development of pharmaceutical products for the treatment of neuroendocrine and metabolic disorders. The company's primary development programs are based on oral delivery solutions for poorly bioavailable drugs. Its lead product candidate is TLANDO, an oral testosterone replacement therapy.

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