Faron Pharmaceuticals Oy (LON:FARN) Share Price Crosses Below 50-Day Moving Average – Here’s Why

Faron Pharmaceuticals Oy (LON:FARN) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of GBX 216.86 ($2.98) and traded as low as GBX 185 ($2.54). Faron Pharmaceuticals Oy shares last traded at GBX 194.50 ($2.67), with a volume of 20,604 shares traded.

Faron Pharmaceuticals Oy Stock Up 5.1%

The company has a debt-to-equity ratio of 922.55, a quick ratio of 1.09 and a current ratio of 1.45. The company has a market capitalization of £261.12 million, a price-to-earnings ratio of -5.20 and a beta of 0.36. The firm’s 50-day simple moving average is GBX 216.86 and its 200-day simple moving average is GBX 197.79.

Insiders Place Their Bets

In other news, insider Markku Jalkanen sold 600,000 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of GBX 310 ($4.25), for a total transaction of £1,860,000 ($2,552,490.74). Company insiders own 31.82% of the company’s stock.

Faron Pharmaceuticals Oy Company Profile

Faron (AIM: FARN, First North: FARON) is a clinical stage biopharmaceutical company developing novel treatments for medical conditions with significant unmet needs. The Company currently has a pipeline based on the receptors involved in regulation of immune response in oncology and organ damage. Clevegen (bexmarilimab), its investigative precision immunotherapy, is a novel anti-Clever-1 antibody with the ability to switch immune suppression to immune activation in various conditions, with potential across oncology, infectious disease and vaccine development.