DURECT Corporation (DRRX) lost ground during morning trading on September 23 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the health care sector halfway through the trading day. At the lunch break, shares of DRRX have fallen 4.64% to $1.66 after closing the day prior at $1.74. So far, the stock has traded as high as $1.76 and as low as $1.56. Today’s decline has come with about 756,409 shares changing hands, compared to an average 30-day volume of 679,912 for DURECT Corporation. The price is currently below the 30-day volume weighted average price of $1.67 for DRRX.
The share depreciation gives the company a market capitalization of $239.09 million based upon 137.41 million shares outstanding. It also means that DRRX has a price-to-book ratio of 12.48:1.
In the past 52 weeks, shares of DRRX have traded as low as $0.99 and as high as $2.7. Technical traders will take note that at $1.66, shares of DRRX are trading above their 200-day MA at $1.47 and below their 50-day MA at $1.73. 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 below them is typically regarded as bearish.
Who is DRRX?
Durect Corp is a biopharmaceutical company. It develops pharmaceutical products based on its proprietary drug delivery technology platforms. The company’s 98 employees are led by CEO James E. Brown from the corporate headquarters at 10260 Bubb Road in Cupertino, CA.
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