Lipocine (NASDAQ:LPCN) Stock Passes Below 200 Day Moving Average – Here’s Why

Lipocine Inc. (NASDAQ:LPCN) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.38 and traded as low as $3.01. Lipocine shares last traded at $3.12, with a volume of 10,512 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Lipocine in a research note on Tuesday. They set a “hold” rating on the stock.

Lipocine Trading Down 1.3 %

The firm has a market capitalization of $16.10 million, a PE ratio of -3.96 and a beta of 1.51. The company has a fifty day moving average price of $3.29 and a two-hundred day moving average price of $4.37.

Institutional Investors Weigh In On Lipocine

A hedge fund recently raised its stake in Lipocine stock. Geode Capital Management LLC boosted its holdings in Lipocine Inc. (NASDAQ:LPCN) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,464 shares of the specialty pharmaceutical company’s stock after purchasing an additional 3,248 shares during the quarter. Geode Capital Management LLC owned about 1.07% of Lipocine worth $280,000 at the end of the most recent quarter. Institutional investors and hedge funds own 9.11% of the company’s stock.

About Lipocine

Lipocine Inc, a clinical-stage biopharmaceutical company, engages in the research and development for the delivery of drugs for the treatment of central nervous system (CNS) disorders. Its lead product candidate is TLANDO, an oral testosterone replacement therapy (TRT) comprising testosterone undecanoate.