WuXi Biologics (Cayman) (OTCMKTS:WXXWY) Shares Down 8.8% – Here’s What Happened

WuXi Biologics (Cayman) Inc. (OTCMKTS:WXXWY) shares traded down 8.8% during mid-day trading on Thursday. The company traded as low as $13.49 and last traded at $13.49. Approximately 30,944 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 71,118 shares. The stock had previously closed at $14.79.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of WuXi Biologics (Cayman) to a “hold” rating in a research note on Friday, August 28th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

WuXi Biologics (Cayman) Stock Performance

The business has a 50 day simple moving average of $12.50 and a 200-day simple moving average of $10.07.

About WuXi Biologics (Cayman)

WuXi Biologics (Cayman) Inc is a global contract research, development and manufacturing organization (CRDMO) focused on biologic medicines. The company works with pharmaceutical and biotechnology customers to support the development and production of biologic therapies, including monoclonal antibodies, recombinant proteins, vaccines and other complex biological products.

Its services span early-stage discovery and cell-line development through process development, clinical manufacturing, regulatory support and commercial-scale production.