Hillstream Biopharma (NASDAQ:CNTN) Shares Down 4.9% – Here’s Why

Hillstream Biopharma Inc. (NASDAQ:CNTN) traded down 4.9% during trading on Friday. The stock traded as low as $1.93 and last traded at $1.95. Approximately 529,029 shares were traded during mid-day trading, a decline of 28% from the average session volume of 735,780 shares. The stock had previously closed at $2.05.

Analyst Ratings Changes

Several brokerages recently weighed in on CNTN. Weiss Ratings raised shares of Hillstream Biopharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. Wall Street Zen raised shares of Hillstream Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Hillstream Biopharma Price Performance

The company has a fifty day simple moving average of $2.15 and a two-hundred day simple moving average of $2.67. The company has a market capitalization of $155.38 million, a P/E ratio of -3.90 and a beta of 1.46.

About Hillstream Biopharma

Hillstream Biopharma, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cancer, particularly treatment-resistant solid tumors. The company’s research is centered on ferroptosis, a form of regulated cell death that can potentially be used to eliminate cancer cells that have developed resistance to conventional treatments.

Hillstream’s lead investigational candidate, HSB-1216, is a small-molecule therapy designed to induce ferroptosis by targeting glutathione peroxidase 4 (GPX4), a protein involved in protecting cells from oxidative damage.