Home / Healthcare / Health Care Sector Feels Weight of 7.87% Slide in Early Trading of Tokai Pharmaceuticals Inc. (TKAI) on September 23

Health Care Sector Feels Weight of 7.87% Slide in Early Trading of Tokai Pharmaceuticals Inc. (TKAI) on September 23

Tokai Pharmaceuticals Inc. (TKAI) started the trading day on a down note, making it one of the worst performing stocks in the health care sector of NYSE and NASDAQ listed companies shortly after the opening bell on September 23. Shares of TKAI have fallen 7.87% about 30 minutes into the session to $1.52 after closing the day prior at $1.65. It’s early, but the stock has traded as high as $1.7 and as low as $1.48 so far. Today’s quick decline has come with about 710,975 shares changing hands, compared to an average 30-day volume of 1.26 million for Tokai Pharmaceuticals Inc.. The price is currently below the 30-day volume weighted average price of $1.56 for TKAI.

The share depreciation gives the company a market capitalization of $37.35 million based upon 22.63 million shares outstanding. It also means that TKAI has a price-to-book ratio of 0.96:1.

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 $1.52, shares of TKAI are trading below their 200-day MA at $5.51 and below their 50-day MA at $1.82. 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 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.

For more information on TKAI and other companies trading on the major exchanges, as well as the over the counter markets, or to be considered for contributing content for our distribution network, visit FinancialPress.com today.

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