Eloxx Pharmaceuticals (NASDAQ:ELOX) Stock Price Up 998% – Time to Buy?

Eloxx Pharmaceuticals, Inc. (NASDAQ:ELOX)’s stock price rose 998% during mid-day trading on Wednesday . The company traded as high as $0.60 and last traded at $0.5490. Approximately 84,299 shares changed hands during mid-day trading, an increase of 335% from the average daily volume of 19,387 shares. The stock had previously closed at $0.05.

Eloxx Pharmaceuticals Trading Up 998.0%

The firm has a market cap of $2.78 million, a PE ratio of -0.39 and a beta of -1,907.33. The stock’s 50 day simple moving average is $0.11.

Eloxx Pharmaceuticals Company Profile

Eloxx Pharmaceuticals, Inc (NASDAQ: ELOX) is a clinical‐stage biopharmaceutical company focused on developing precision medicines for rare genetic diseases caused by nonsense mutations. Its lead candidate, ELX-02, is a novel small molecule designed to enable ribosomal read-through of premature stop codons and restore production of full-length, functional proteins. The company’s initial therapeutic targets include cystic fibrosis and cystinosis, with ELX-02 advancing through Phase 2 clinical studies in cystic fibrosis and Phase 1/2 trials in cystinosis.

In addition to ELX-02, Eloxx is advancing second-generation read-through compounds in its discovery pipeline to broaden treatment opportunities for patients with other nonsense mutation-driven disorders.