Redx Pharma (LON:REDX) Share Price Crosses Below Fifty Day Moving Average – Here’s Why

Shares of Redx Pharma Plc (LON:REDX) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 15 ($0.19) and traded as low as GBX 11.42 ($0.14). Redx Pharma shares last traded at GBX 15 ($0.19), with a volume of 1,420,135 shares trading hands.

Redx Pharma Price Performance

The business has a 50 day simple moving average of GBX 15 and a 200-day simple moving average of GBX 14.72. The company has a quick ratio of 1.93, a current ratio of 1.11 and a debt-to-equity ratio of 527.00. The company has a market capitalization of £58.35 million, a P/E ratio of -150.00 and a beta of -0.53.

About Redx Pharma

Redx Pharma Plc engages in drug discovery, pre-clinical development, and licensing activities in the United Kingdom. It discovers and develops small molecule drugs for treating fibrotic disease, cancer, and the emerging area of cancer-associated fibrosis in the areas of unmet medical needs. The company also develops zelasudil (RXC007), a selective rho associated coiled-coil containing protein kinase 2 (ROCK2) inhibitor, which is in Phase 2 clinical trial for the treatment of multiple interstitial lung diseases and cancer-associated fibrosis; RXC008, a potential first-in-class GI-targeted ROCK inhibitor that is in preclinical studies for the treatment of fibrostenotic Crohn's disease; and zamaporvint (RXC004), a porcupine inhibitor that is in Phase 2 clinical trial for targeted therapy of Wnt-ligand dependent cancers.