Gemphire Therapeutics Inc (NASDAQ:GEMP)’s share price dropped 9.1% during trading on Friday . The company traded as low as $0.24 and last traded at $0.30, approximately 705,410 shares changed hands during trading. An increase of 444% from the average daily volume of 129,652 shares. The stock had previously closed at $0.33.
The business has a 50-day moving average of $0.36 and a 200 day moving average of $0.59.
An institutional investor recently raised its position in Gemphire Therapeutics stock. Vanguard Group Inc. raised its position in shares of Gemphire Therapeutics Inc (NASDAQ:GEMP) by 13.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 187,588 shares of the company’s stock after purchasing an additional 22,096 shares during the quarter. Vanguard Group Inc. owned 1.32% of Gemphire Therapeutics worth $152,000 as of its most recent SEC filing. 17.53% of the stock is currently owned by institutional investors.
Gemphire Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing therapies for the treatment of dyslipidemia and nonalcoholic fatty liver disease (NAFLD/NASH). The company is developing gemcabene, a novel, once-daily, and oral therapy for dyslipidemia conditions where patients are unable to reach their lipid lowering goals, including patients already receiving maximally tolerated statin therapy.
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