PainReform (NASDAQ:PRFX) Trading 11.9% Higher – Should You Buy?

PainReform Ltd. (NASDAQ:PRFX) was up 11.9% during trading on Friday . The stock traded as high as $6.65 and last traded at $3.57. Approximately 18,456,644 shares traded hands during mid-day trading, an increase of 1,260% from the average daily volume of 1,356,704 shares. The stock had previously closed at $3.19.

Wall Street Analysts Forecast Growth

Separately, Maxim Group reiterated a “hold” rating on shares of PainReform in a report on Thursday, October 24th.

PainReform Price Performance

The firm’s 50-day simple moving average is $3.43 and its 200 day simple moving average is $2.56. The firm has a market capitalization of $499,800.00, a price-to-earnings ratio of -0.02 and a beta of 0.64.

Hedge Funds Weigh In On PainReform

A hedge fund recently raised its stake in PainReform stock. Armistice Capital LLC increased its position in shares of PainReform Ltd. (NASDAQ:PRFX) by 76.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 276,000 shares of the company’s stock after buying an additional 120,000 shares during the period. Armistice Capital LLC owned 13.60% of PainReform worth $132,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 37.28% of the company’s stock.

PainReform Company Profile

PainReform Ltd., a clinical stage specialty pharmaceutical company, focuses on the reformulation of established therapeutics and provides an extended period of post-surgical pain relief in Israel. It develops PRF-110, a viscous clear oil-based solution that is instilled directly into the surgical wound to provide localized and extended post-operative analgesia, as well as in Phase 3 clinical trial for pain treatment of patients undergoing bunionectomy and second trial for pain treatment of hernia repair operations.