EnteroMedics Inc. (ETRM) lost ground during morning trading on April 21 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 ETRM have fallen 9.75% to $4.75 after closing the day prior at $5.26. So far, the stock has traded as high as $5.28 and as low as $4.26. Today’s decline has come with about 639,701 shares changing hands, compared to an average 30-day volume of 534,389 for EnteroMedics Inc.. The price is currently below the 30-day volume weighted average price of $4.75 for ETRM.
The share depreciation gives the company a market capitalization of $36.16 million based upon 6.87 million shares outstanding. It also means that ETRM has a price-to-book ratio of 12.73:1.
In the past 52 weeks, shares of ETRM have traded as low as $1.75 and as high as $70.7. Technical traders will take note that at $4.75, shares of ETRM are trading below their 200-day MA at $8.54 and below their 50-day MA at $6.21. 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 ETRM?
EnteroMedics Inc is a medical device company. The Company is focused on the design and development of devices that use neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders. The company’s 32 employees are led by CEO Dan W. Gladney from the corporate headquarters at 2800 Patton Road in St. Paul, MN.
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