Lpath Inc. (LPTN) is one of the best performing stocks in the health care sector for companies listed on the New York Stock Exchange or NASDAQ exchange shortly after the opening bell on September 23. Shares of LPTN have climbed 10.0% about 30 minutes into the session to $3.96 after closing the day prior at $3.6. It’s early, but the stock has traded as high as $3.96 and as low as $3.62 so far. Today’s quick advance has come with about 22,231 shares changing hands, compared to an average 30-day volume of 632,108 for Lpath Inc.. The price is currently below the 30-day volume weighted average price of $3.82 for LPTN.
The share appreciation gives the company a market capitalization of $8.55 million based upon 2.37 million shares outstanding. It also means that LPTN has a price-to-book ratio of 1.36:1 and a price-to-earnings ratio of :1.
In the past 52 weeks, shares of LPTN have traded as low as $1.68 and as high as $5.88. Technical traders will take note that at $3.96, shares of LPTN are trading above their 200-day MA at $2.59 and above their 50-day MA at $2.37. 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 LPTN?
Lpath Inc is a biotechnology company engaged in the discovery and development of lipidomic-based therapeutic antibodies to treat a wide range of human diseases. The Company's product candidates include iSONEP, ASONEP, Lpathomab, and ImmuneY2 Technology. The company’s 14 employees are led by CEO Gary J.G. Atkinson from the corporate headquarters at 4025 Sorrento Valley Boulevard.
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