Tryp Therapeutics (OTCMKTS:TRYPF) Stock Consolidates After The Recent Fall

Pharmaceutical stocks have almost always enjoyed a certain degree of popularity among investors and hence, even though the Tryp Therapeutics (OTCMKTS:TRYPF) stock was trading within a range yesterday, it may be a good move to look into it.

Market Stats

On Wednesday, TRYPF stock fell 2.16% to $0.2082 with more than 195k shares, compared to its average volume of 72k shares. The stock has moved within a range of $0.2000 – 0.2178 after opening trading at $0.2168.

Recent Development

Although it is true that the Tryp stock was trading within a range yesterday, it should not be forgotten that the company made a major announcement yesterday. Tryp announced that it was going to make a presentation at the H.C. Wainwright Bioconnect Conference and the Biotech Showcase that is going to take place next week.

The pharmaceutical company, which is looking to create psilocybin based compounds for a range of conditions with unmet needs, could be in considerable focus among investors in the coming days following the participation at the virtual conference. It is going to take place on January 10 and the Chief Executive Officer and Chairman of the company Greg McKee is going to provide a lowdown of Tryp at the presentation.

He is also going to be responsible for providing the progress made by Tryp with regards to its eating disorders and chronic pain initiatives. It may be a good time to add the stock to your watch lists.

Traders Corner

TRYPF stock is trading below the 20-Day and 50-Day Moving averages of $0.22 and $0.23 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.39.