Zynerba Pharmaceuticals Inc. (ZYNE) 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 ZYNE have fallen 4.97% to $23.31 after closing the day prior at $24.53. So far, the stock has traded as high as $24.57 and as low as $23.15. Today’s decline has come with about 244,933 shares changing hands, compared to an average 30-day volume of 418,180 for Zynerba Pharmaceuticals Inc.. The price is currently below the 30-day volume weighted average price of $23.92 for ZYNE.
The share depreciation gives the company a market capitalization of $324.16 million based upon 13.21 million shares outstanding. It also means that ZYNE has a price-to-book ratio of 10.96:1.
In the past 52 weeks, shares of ZYNE have traded as low as $6.02 and as high as $25.95. Technical traders will take note that at $23.31, shares of ZYNE are trading above their 200-day MA at $14.84 and above their 50-day MA at $21.39. 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 ZYNE?
Zynerba Pharmaceuticals Inc is a specialty pharmaceutical company dedicated to developing and commercializing transdermal synthetic cannabinoid treatments for patients with high unmet needs. The company’s 12 employees are led by CEO Armando Anido from the corporate headquarters at 80 West Lancaster Avenue in Devon, PA.
For more information on ZYNE 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.
All data provided by QuoteMedia, with stock data accurate as of 12:00 PM ET. FinancialPress.com is not responsible for inaccuracies in third-party supplied information.
FinancialPress.com is a leading publisher of market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. A complete disclaimer can be viewed here. If you like this article, you can read more at FinancialPress.com
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of FinancialPress.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://financialpress.com/legal-disclaimer/.