As of Wednesday close, Zynerba Pharmaceuticals Inc.’s (NASDAQ:ZYNE) stock was down -$0.06, moving down -4.44 percent to $1.29. The average number of shares traded per day over the past five days has been 6,059,220 shares. 3 times new highs have been achieved over the past 5 days, with a $0.9562 gain in that time frame. In the last twenty days, the average volume was 1,603,405, while in the previous 50 days, it was 770,164.
Since last month, ZYNE stock rose 253.42%. Shares of the company fell to $0.3321 on 08/11/23, the lowest level in the past month. A 52-week high of $1.38 was reached on 08/14/23 after having rallying from a 52-week low of $0.25. Since the beginning of this year, ZYNE’s stock price has risen by 143.40% or $0.7600, and marked a new high 10 times. However, the stock has declined by -6.52% since its 52-week high.
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ZYNE stock investors should be aware that Zynerba Pharmaceuticals Inc. (ZYNE) stock had its last reported insider trading activity 64 days ago on Jun 14. KISNER DANIEL L, the Director of the company, disposed of 115 shares for $0.35 on Jun 14. It resulted in a $40 divestment by the insider. MOCH KENNETH I sold 115 shares at an average price of $0.35 on Jun 14. The insider now owns 75,778 shares following the transaction. On Jun 14, Director Stephenson Pamela sold 115 shares at $0.35 apiece. The transaction was valued at $40.
Financial Health
In the three months ended June 29, Zynerba Pharmaceuticals Inc.’s quick ratio stood at 5.00, while its current ratio was 5.00, showing that the company is able to pay off its debt. Based on annual data, ZYNE earned $35.25 million in gross profit.
While analysts expected Zynerba Pharmaceuticals Inc. to report -$0.2 quarterly earnings, the actual figure was -$0.21 per share, beating the consensus estimate by -5.00%. The liabilities of Zynerba Pharmaceuticals Inc. were 11.46 million at the end of its most recent quarter ended June 29. The value of shareholders’ equity is $53.94 million.
Technical Picture
This quick technical analysis looks at Zynerba Pharmaceuticals Inc.’s (ZYNE) price momentum. With a historical volatility rate of 685.25%, the RSI 9-day stood at 90.36% on 16 August.
With respect to its five-day moving average, the current Zynerba Pharmaceuticals Inc. price is up by +286.46% percent or $0.9562. At present, ZYNE shares trade +247.71% above its 20-day simple moving average and +183.52% percent above its 100-day simple moving average. However, the stock is currently trading approximately +278.30% above its SMA50 and +87.69% above its SMA200.
Stochastic coefficient K was 95.23% and Stochastic coefficient D was 68.88%, while ATR was 0.1206. Given the Stochastic reading of 91.41% for the 14-day period, the RSI (14) reading has been calculated as 89.16%. As of today, the MACD Oscillator reading stands at 0.6589, while the 14-day reading stands at 0.7699.
Analyst Ratings
H.C. Wainwright reiterated its a Buy rating on Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) in a note to investors. The analysts firm has however raised their price target to $9, representing a possible 89.25% increase in the stock price. Zynerba Pharmaceuticals Inc. (ZYNE) has been rated Hold by analysts. According to 0 brokerage firms, ZYNE is a sell, and 4 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Zynerba Pharmaceuticals Inc. stock as buy, with 0 recommending it as overweight.
With a median target price of $1.40, the current consensus forecast for the stock is $1.11 – $7.00. Based on these forecasts, analysts predict Zynerba Pharmaceuticals Inc. (ZYNE) will achieve an average price target of $3.17.
