Qualigen Therapeutics (NASDAQ:QLGN) Shares Down 1.4% – What’s Next?

Qualigen Therapeutics, Inc. (NASDAQ:QLGN) dropped 1.4% during trading on Monday . The stock traded as low as $2.79 and last traded at $2.81. Approximately 195,537 shares changed hands during trading, a decline of 82% from the average daily volume of 1,066,976 shares. The stock had previously closed at $2.85.

Wall Street Analyst Weigh In

QLGN has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Qualigen Therapeutics in a research note on Wednesday, October 8th. Wall Street Zen raised Qualigen Therapeutics to a “sell” rating in a research note on Saturday, October 11th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Qualigen Therapeutics Stock Performance

The business has a 50 day moving average of $3.36 and a two-hundred day moving average of $3.26. The firm has a market capitalization of $4.76 million, a price-to-earnings ratio of -0.37 and a beta of 0.32.

Qualigen Therapeutics (NASDAQ:QLGN) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($1.00) earnings per share for the quarter.

Qualigen Therapeutics Company Profile

Qualigen Therapeutics, Inc, a biotechnology company, focuses on the development and commercialization of novel therapeutic products for the treatment of cancer and infectious diseases. It offers FastPack, a patent-protected rapid, onsite immunoassay testing system. The company is developing QN-302 for the treatment of pancreatic ductal adenocarcinoma; QN-247, an oligonucleotide-based drug candidate to treat various nucleolin-expressing cancers, including liquid and solid tumors; QN-165, a drug candidate for the potential broad-spectrum treatment of infectious diseases, such as COVID-19; RAS-F, a small-molecule RAS oncogene protein-protein inhibitor that blocks RAS mutations and inhibits tumor formation; and selective target antigen removal system, a therapeutic device to remove circulating tumor cells, viruses, inflammation factors, and immune checkpoints.