CytRx Corporation (CYTR) Shares Down 3%

Shares of CytRx Corporation (NASDAQ:CYTR) fell 3% during trading on Monday . The company traded as low as $0.31 and last traded at $0.33. 820,095 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 4,437,360 shares. The stock had previously closed at $0.34.

Separately, ValuEngine raised CytRx Corporation from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 13th.

The company’s market capitalization is $360.92 million. The company has a 50 day moving average price of $0.40 and a 200 day moving average price of $0.55.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in CytRx Corporation by 53.9% in the second quarter. Vanguard Group Inc. now owns 4,823,123 shares of the biotechnology company’s stock worth $3,024,000 after buying an additional 1,689,874 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of CytRx Corporation by 795.0% during the second quarter. Goldman Sachs Group Inc. now owns 703,465 shares of the biotechnology company’s stock valued at $441,000 after purchasing an additional 624,863 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of CytRx Corporation during the first quarter valued at approximately $264,000. LMR Partners LLP purchased a new position in shares of CytRx Corporation during the second quarter valued at approximately $235,000. Finally, SG Americas Securities LLC purchased a new position in shares of CytRx Corporation during the first quarter valued at approximately $102,000. Institutional investors and hedge funds own 7.83% of the company’s stock.

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CytRx Corporation Company Profile

CytRx Corporation is a biopharmaceutical research and development company specializing in oncology. The Company is focused on the clinical development of aldoxorubicin, its modified version of the chemotherapeutic agent, doxorubicin. It is engaged in Phase III trials for aldoxorubicin as a therapy for patients with soft tissue sarcoma (STS) whose tumors have progressed after treatment with chemotherapy.

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