Virios Therapeutics (NASDAQ:VIRI) Shares Down 14.6% – Here’s Why

Shares of Virios Therapeutics, Inc. (NASDAQ:VIRI) dropped 14.6% during mid-day trading on Monday . The company traded as low as $10.10 and last traded at $11.40. Approximately 8,162,763 shares changed hands during trading, an increase of 678% from the average daily volume of 1,049,645 shares. The stock had previously closed at $13.35.

Analyst Upgrades and Downgrades

Separately, HC Wainwright boosted their target price on Virios Therapeutics from $0.20 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th.

Virios Therapeutics Stock Performance

The stock has a market capitalization of $219.54 million, a price-to-earnings ratio of -42.22 and a beta of 1.58. The firm’s 50 day moving average is $2.88 and its 200-day moving average is $1.92.

About Virios Therapeutics

Virios Therapeutics, Inc, a development-stage biotechnology company, focuses on developing novel antiviral therapies to treat diseases associated with a viral triggered abnormal immune response. The company's lead development candidate is the IMC-1, a fixed dose combination of famciclovir and celecoxib to treat fibromyalgia.