Medicus Pharma (NASDAQ:MDCX) Stock Price Down 4.4% – Here’s What Happened

Medicus Pharma Ltd. (NASDAQ:MDCX) fell 4.4% on Friday . The company traded as low as $3.16 and last traded at $3.29. 27,849 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 54,424 shares. The stock had previously closed at $3.44.

Wall Street Analysts Forecast Growth

MDCX has been the subject of a number of research reports. Brookline Capital Management upgraded shares of Medicus Pharma to a “strong-buy” rating in a research note on Monday, December 23rd. Maxim Group initiated coverage on shares of Medicus Pharma in a research note on Tuesday, December 17th. They set a “buy” rating and a $10.00 target price for the company.

Medicus Pharma Stock Performance

The business’s 50 day simple moving average is $3.13.

Institutional Investors Weigh In On Medicus Pharma

An institutional investor recently bought a new position in Medicus Pharma stock. Interchange Capital Partners LLC acquired a new stake in shares of Medicus Pharma Ltd. (NASDAQ:MDCX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,457,165 shares of the company’s stock, valued at approximately $3,628,000. Medicus Pharma accounts for about 1.3% of Interchange Capital Partners LLC’s portfolio, making the stock its 15th largest holding. Interchange Capital Partners LLC owned about 13.43% of Medicus Pharma as of its most recent filing with the SEC.

Medicus Pharma Company Profile

Medicus Pharma Ltd is a biotech/life sciences company focused on accelerating the clinical development programs of novel and disruptive therapeutics assets. Medicus Pharma Ltd is based in Toronto, Ontario.