Hillstream Biopharma (NASDAQ:CNTN) Trading Up 7.3% – Here’s Why

Hillstream Biopharma Inc. (NASDAQ:CNTN) shot up 7.3% during trading on Wednesday . The company traded as high as $3.64 and last traded at $3.54. 1,382,389 shares were traded during mid-day trading, an increase of 53% from the average session volume of 903,791 shares. The stock had previously closed at $3.30.

Wall Street Analyst Weigh In

CNTN has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Hillstream Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings downgraded shares of Hillstream Biopharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Hillstream Biopharma Stock Performance

The stock has a market capitalization of $233.86 million, a P/E ratio of -2.91 and a beta of 1.41. The company’s fifty day simple moving average is $3.20.

Hillstream Biopharma (NASDAQ:CNTN) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.54 EPS for the quarter.

Insider Activity

In related news, Director Gary S. Stetz sold 87,851 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $3.42, for a total value of $300,450.42. Following the completion of the transaction, the director directly owned 146,675 shares in the company, valued at approximately $501,628.50. The trade was a 37.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.70% of the company’s stock.

About Hillstream Biopharma

Hillstream BioPharma, Inc, a pre-clinical biotechnology company, develops novel therapeutic candidates targeting ferroptosis, an anti-cancer mechanism resulting in iron mediated cell death (IMCD) for the treatment resistant cancers. The company’s product candidate is HSB-1216, an IMCD inducer targeting solid tumors. It also develops HSB-888, a dual Quatramer loaded IMCD inducer coupled with its anthracycline analogue for solid tumors; HSB-510, a targeted bifunctional inhibitory compound in Quatramer with single digit nanomolar; IC50 against PI3K-delta and HDAC6, which is also known to downregulate; c-myc, a cancer drug target; and HSB-114, an immunotherapeutic agent, which uses its Quatramer technology to deliver tumor necrosis factor-alpha gene into cancer cells.