Why Qualigen Therapeutics Inc. (QLGN) Stock Could See Much Higher Prices Ahead

Qualigen Therapeutics Inc. (NASDAQ: QLGN) is 8.64% higher on its value in year-to-date trading and has touched a low of $2.87 and a high of $21.50 in the current 52-week trading range. The QLGN stock was last observed hovering at around $3.27 in the last trading session, with the day’s gains setting it 0.17% off its average median price target of $10.00 for the next 12 months. It is also 65.6% off the consensus price target high of $10.00 offered by 1 analysts, but current levels are 65.6% higher than the price target low of $10.00 for the same period.

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Currently trading at $3.44, the stock is 1.95% and -2.38% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.35 million and changing 5.20% at the moment leaves the stock -37.85% off its SMA200. QLGN registered -42.61% loss for a year compared to 6-month loss of -26.68%. The firm has a 50-day simple moving average (SMA 50) of $3.4191 and a 200-day simple moving average (SMA200) of $4.3563.

The stock witnessed a -9.17% gain in the last 1 month and extending the period to 3 months gives it a -37.48%, and is 8.64% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 7.38% over the week and 8.60% over the month.

Qualigen Therapeutics Inc. (QLGN) has around 5 employees, a market worth around $84.89M and $1.70M in sales. Distance from 52-week low is 19.86% and -84.00% from its 52-week high.

Qualigen Therapeutics Inc. (QLGN) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Qualigen Therapeutics Inc. (QLGN) is a “Buy”. 1 analysts offering their recommendations for the stock have an average rating of 2.00, where 0 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Qualigen Therapeutics Inc. quarterly earnings per share for the current quarter are estimated at -$0.13 with sales reaching $1.21M over the same period.The EPS is expected to grow by 71.10% this year.

Qualigen Therapeutics Inc. (QLGN) Top Institutional Holders

21 institutions hold shares in Qualigen Therapeutics Inc. (QLGN), with 2.52M shares held by insiders accounting for 10.91% while institutional investors hold 3.50% of the company’s shares. The shares outstanding are 26.71M, and float is at 21.15M with Short Float at 8.25%. Institutions hold 3.12% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 0.31 million shares valued at $1.55 million. The investor’s holdings represent 1.36% of the QLGN Shares outstanding. As of Sep 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 0.31 million shares valued at $1.51 million to account for 1.33% of the shares outstanding. The other top investors are Geode Capital Management, LLC which holds 66306.0 shares representing 0.29% and valued at over $0.33 million, while Citadel Advisors LLC holds 0.23% of the shares totaling 53687.0 with a market value of $0.27 million.

Qualigen Therapeutics Inc. (QLGN) Insider Activity

The most recent transaction is an insider purchase by Kruger Kurt H, the company’s Director. SEC filings show that Kruger Kurt H bought 4,000 shares of the company’s common stock on Dec 29 at a price of $2.94 per share for a total of $11740.0. Following the purchase, the insider now owns 10000.0 shares.

Qualigen Therapeutics Inc. disclosed in a document filed with the SEC on Nov 23 that Kruger Kurt H (Director) bought a total of 4,600 shares of the company’s common stock. The trade occurred on Nov 23 and was made at $3.46 per share for $15925.0. Following the transaction, the insider now directly holds 6000.0 shares of the QLGN stock.

Still, SEC filings show that on Nov 20, Kruger Kurt H (Director) acquired 1,400 shares at an average price of $3.55 for $4969.0. The insider now directly holds 1,400 shares of Qualigen Therapeutics Inc. (QLGN).

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