Essex Investment Management Co. LLC Acquires New Shares in NexGel, Inc. (NASDAQ:NXGL)

Essex Investment Management Co. LLC acquired a new stake in NexGel, Inc. (NASDAQ:NXGL) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 38,459 shares of the company’s stock, valued at approximately $115,000.

Other large investors have also bought and sold shares of the company. Virtu Financial LLC acquired a new stake in NexGel in the fourth quarter valued at about $48,000. Two Sigma Securities LLC acquired a new stake in NexGel in the fourth quarter valued at about $54,000. IFP Advisors Inc boosted its stake in NexGel by 100.0% in the first quarter. IFP Advisors Inc now owns 22,000 shares of the company’s stock valued at $66,000 after buying an additional 11,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in NexGel by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 60,142 shares of the company’s stock valued at $268,000 after buying an additional 3,302 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in NexGel by 456.4% in the fourth quarter. Renaissance Technologies LLC now owns 158,331 shares of the company’s stock valued at $706,000 after buying an additional 129,876 shares in the last quarter. 2.21% of the stock is owned by institutional investors and hedge funds.

NexGel Stock Performance

NASDAQ:NXGL opened at $2.36 on Wednesday. The stock’s 50-day simple moving average is $2.41 and its 200 day simple moving average is $2.78. The firm has a market capitalization of $18.05 million, a PE ratio of -5.24 and a beta of 0.59. The company has a quick ratio of 1.15, a current ratio of 1.88 and a debt-to-equity ratio of 0.15. NexGel, Inc. has a twelve month low of $2.10 and a twelve month high of $5.10.

NexGel (NASDAQ:NXGL) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01. The business had revenue of $2.81 million for the quarter, compared to analyst estimates of $2.73 million. NexGel had a negative return on equity of 54.95% and a negative net margin of 30.80%.

About NexGel

NEXGEL, Inc manufactures high water content, electron beam cross-linked, and aqueous polymer hydrogels and gels. Its products are used for wound care, medical diagnostics, transdermal drug delivery, and cosmetics. The company was formerly known as AquaMed Technologies, Inc and changed its name to NEXGEL, Inc in November 2019.