PainReform (NASDAQ:PRFX) Stock Price Up 11.9% – Here’s Why

PainReform Ltd. (NASDAQ:PRFX) rose 11.9% during trading on Friday . The stock traded as high as $6.65 and last traded at $3.57. Approximately 18,456,644 shares changed hands during trading, an increase of 1,260% from the average daily volume of 1,356,704 shares. The stock had previously closed at $3.19.

Analyst Upgrades and Downgrades

Separately, Maxim Group reiterated a “hold” rating on shares of PainReform in a report on Thursday, October 24th.

PainReform Stock Up 11.9 %

The stock has a market capitalization of $499,800.00, a P/E ratio of -0.02 and a beta of 0.64. The business’s 50 day simple moving average is $3.43 and its two-hundred day simple moving average is $2.56.

Institutional Trading of PainReform

An institutional investor recently raised its position in PainReform stock. Armistice Capital LLC increased its position in shares of PainReform Ltd. (NASDAQ:PRFX) by 76.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 276,000 shares of the company’s stock after purchasing an additional 120,000 shares during the quarter. Armistice Capital LLC owned approximately 13.60% of PainReform worth $132,000 as of its most recent SEC filing. Institutional investors own 37.28% of the company’s stock.

About PainReform

PainReform Ltd., a clinical stage specialty pharmaceutical company, focuses on the reformulation of established therapeutics and provides an extended period of post-surgical pain relief in Israel. It develops PRF-110, a viscous clear oil-based solution that is instilled directly into the surgical wound to provide localized and extended post-operative analgesia, as well as in Phase 3 clinical trial for pain treatment of patients undergoing bunionectomy and second trial for pain treatment of hernia repair operations.