CytRx Corporation (CYTR) Shares are Up 3.1%

CytRx Corporation (CYTR) : Traders are bullish on CytRx Corporation (CYTR) as it has outperformed the S&P 500 by a wide margin of 3.73% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.93%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.1% in the last 1 week, and is up 3.17% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 2.31% and the 50-Day Moving Average is 0.74%.The 200 Day SMA reached 70.37%


CytRx Corporation (NASDAQ:CYTR): After opening at $0.57, the stock dipped to an intraday low of $0.5559 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $0.5883 and the buying power remained strong till the end. The stock closed at $0.5883 for the day, a gain of 5.35% for the day session. The total traded volume was 1,092,518. The stocks close on the previous trading day was $0.5883.

CytRx Corporation (CYTR) : The highest level CytRx Corporation (CYTR) is projected to reach is $10 for the short term and the lowest estimate is at $1. The consolidated price target from 3 rating analysts who initiate coverage on the stock is $4.58 and the possibility the share price can swing is $4.82.

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 a chemotherapeutic agent. Aldoxorubicin is a conjugate of the commonly prescribed chemotherapeutic agent doxorubicin that binds to circulating albumin in the bloodstream and is concentrated at the site of tumors. It consists of (6-Maleimidocaproyl) hydrazine, an acid-sensitive molecule that is conjugated to doxorubicin. Its laboratory in Freiburg, Germany is conducting discovery and translational research to create drug candidates that utilize linker technologies that couple chemotherapeutic agents and proteins either inside the body or externally, and then concentrate drug in tumors.

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