Lipocine (NASDAQ:LPCN) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Lipocine Inc. (NASDAQ:LPCN) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.52 and traded as low as $3.16. Lipocine shares last traded at $3.54, with a volume of 7,813 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Lipocine in a research note on Saturday. They issued a “hold” rating on the stock.

Lipocine Stock Up 1.1 %

The firm has a market cap of $18.94 million, a PE ratio of -4.66 and a beta of 1.42. The stock has a 50 day moving average price of $3.79 and a two-hundred day moving average price of $4.53.

Institutional Investors Weigh In On Lipocine

An institutional investor recently raised its position in Lipocine stock. Geode Capital Management LLC increased its position in shares of Lipocine Inc. (NASDAQ:LPCN) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,464 shares of the specialty pharmaceutical company’s stock after purchasing an additional 3,248 shares during the quarter. Geode Capital Management LLC owned 1.07% of Lipocine worth $280,000 as of its most recent SEC filing. 9.11% of the stock is currently owned by institutional investors.

Lipocine Company Profile

Lipocine Inc, a clinical-stage biopharmaceutical company, engages in the research and development for the delivery of drugs for the treatment of central nervous system (CNS) disorders. Its lead product candidate is TLANDO, an oral testosterone replacement therapy (TRT) comprising testosterone undecanoate.