Synairgen (LON:SNG) Shares Down 17.7% – Time to Sell?

Shares of Synairgen plc (LON:SNG) were down 17.7% during mid-day trading on Tuesday . The stock traded as low as GBX 0.80 ($0.01) and last traded at GBX 0.86 ($0.01). Approximately 933,123 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 1,504,091 shares. The stock had previously closed at GBX 1.05 ($0.01).

Synairgen Price Performance

The business has a 50-day moving average of GBX 1.77 and a 200 day moving average of GBX 3.13. The company has a market capitalization of £8.57 million, a PE ratio of -0.53 and a beta of -2.23.

About Synairgen

Synairgen is a respiratory drug discovery and development company founded by University of Southampton Professors Stephen Holgate, Donna Davies and Ratko Djukanovic. The business, focused primarily on lung viral defence in asthma and COPD, uses its differentiating human biology BioBank platform and world-renowned international academic KOL network to discover and develop novel therapies for respiratory disease.

Synairgen is conducting a double blind, placebo-controlled clinical trial in COVID-19 patients (SG016).