Qualigen Therapeutics (NASDAQ:QLGN) Stock Price Up 3.3% – Should You Buy?

Qualigen Therapeutics, Inc. (NASDAQ:QLGN) shares rose 3.3% during mid-day trading on Tuesday . The company traded as high as $3.78 and last traded at $3.77. Approximately 2,063 shares were traded during trading, a decline of 98% from the average daily volume of 113,208 shares. The stock had previously closed at $3.65.

Qualigen Therapeutics Stock Up 3.3%

The company’s fifty day simple moving average is $3.57 and its 200-day simple moving average is $3.70.

Institutional Trading of Qualigen Therapeutics

An institutional investor recently bought a new position in Qualigen Therapeutics stock. FNY Investment Advisers LLC bought a new stake in Qualigen Therapeutics, Inc. (NASDAQ:QLGN) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,548 shares of the company’s stock, valued at approximately $27,000. FNY Investment Advisers LLC owned 1.03% of Qualigen Therapeutics as of its most recent SEC filing. 3.18% of the stock is owned by institutional investors.

Qualigen Therapeutics Company Profile

Qualigen Therapeutics, Inc, a biotechnology company, focuses on the development and commercialization of novel therapeutic products for the treatment of cancer and infectious diseases. It offers FastPack, a patent-protected rapid, onsite immunoassay testing system. The company is developing QN-302 for the treatment of pancreatic ductal adenocarcinoma; QN-247, an oligonucleotide-based drug candidate to treat various nucleolin-expressing cancers, including liquid and solid tumors; QN-165, a drug candidate for the potential broad-spectrum treatment of infectious diseases, such as COVID-19; RAS-F, a small-molecule RAS oncogene protein-protein inhibitor that blocks RAS mutations and inhibits tumor formation; and selective target antigen removal system, a therapeutic device to remove circulating tumor cells, viruses, inflammation factors, and immune checkpoints.