Pheton (NASDAQ:PTHL) Trading Down 7.3% – Time to Sell?

Pheton Holdings Ltd (NASDAQ:PTHL)’s stock price fell 7.3% during trading on Thursday . The stock traded as low as $0.3613 and last traded at $0.3702. 177,929 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,345,881 shares. The stock had previously closed at $0.3994.

Pheton Stock Down 2.8%

The firm has a 50 day moving average price of $0.33 and a 200 day moving average price of $0.47.

Institutional Investors Weigh In On Pheton

A hedge fund recently raised its stake in Pheton stock. XTX Topco Ltd increased its position in Pheton Holdings Ltd (NASDAQ:PTHL) by 67.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 82,835 shares of the company’s stock after buying an additional 33,427 shares during the period. XTX Topco Ltd owned about 1.26% of Pheton worth $35,000 at the end of the most recent quarter.

About Pheton

Pheton Holdings Ltd. operates as a holding company with interests in providing healthcare solutions. The firm through its subsidiaries engages in the development and commercialization of brachytherapy TPS specifically used for radioactive particle implantation, a type of radiotherapy used in treating cancer patients by placing radioactive sources inside the patient that kill cancer cells and shrink tumors. The company was founded in 1998 and is headquartered in Beijing, China.