Lipella Pharmaceuticals (NASDAQ:LIPO) Trading Down 2.4%

Shares of Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) dropped 2.4% during mid-day trading on Tuesday . The stock traded as low as $0.70 and last traded at $0.73. Approximately 20,736 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 47,592 shares. The stock had previously closed at $0.74.

Analyst Ratings Changes

Separately, Maxim Group assumed coverage on Lipella Pharmaceuticals in a report on Tuesday, April 9th. They set a “buy” rating and a $2.00 target price on the stock.

Lipella Pharmaceuticals Price Performance

The firm has a 50-day moving average price of $0.76 and a two-hundred day moving average price of $0.97.

Lipella Pharmaceuticals Company Profile

Lipella Pharmaceuticals Inc, a biotechnology company, focuses on developing drugs by reformulating the active agents in existing generic drugs and optimizing these reformulations for various applications. The company develops LP-10, a formulation of tacrolimus that has completed Phase 2a clinical trial for patients with radiation-induced hemorrhagic cystitis; LP-310, a formulation of tacrolimus for the treatment of oral lichen planus; and LP-410, an oral liposomal formulation of tacrolimus for the treatment of oral graft-versus-host disease (GVHD).