Tokai Pharmaceuticals Inc. (TKAI) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the health care sector during morning trading on September 22. At the lunch break, shares of TKAI have clocked gains of 8.2% to $1.45 after closing the day prior at $1.34. In the first two and a half hours of trading, the stock has gone as high as $1.48 and as low as $1.31. Today’s rise has come with about 982,702 shares changing hands, compared to an average 30-day volume of 1.11 million for Tokai Pharmaceuticals Inc.. The price is currently below the 30-day volume weighted average price of $1.41 for TKAI.
The share appreciation gives the company a market capitalization of $30.33 million based upon 22.63 million shares outstanding. It also means that TKAI has a price-to-book ratio of 0.78:1.
In the past 52 weeks, shares of TKAI have traded as low as $0.98 and as high as $13.26. Technical traders will take note that at $1.45, shares of TKAI are trading below their 200-day MA at $5.56 and below their 50-day MA at $1.89. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is TKAI?
Tokai Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on developing novel proprietary therapies for the treatment of prostate cancer and other hormonally-driven diseases. The company’s 27 employees are led by CEO Jodie P. Morrison from the corporate headquarters at 255 State Street, 6th Floor in Boston, MA.
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