BiondVax Pharmaceuticals Ltd (NASDAQ:BVXV) Stock Extends Fall: Down 9% In a Week

Over the course of the past week, the BiondVax Pharmaceuticals Ltd (NASDAQ:BVXV) stock has gone through a steady selloff and the situation remained the same on Tuesday, as the stock fell by another 4%.

Market Stats

On Tuesday, BVXV stock fell 3.91% to $1.72 with more than 129k shares, compared to its average volume of 81k shares. The stock has moved within a range of $1.6800 – 1.7873 after opening trading at $1.77.

Earnings Recap

The decline in the stock yesterday took the losses made over the past week to as much as 9%. The company was in focus on Tuesday after it announced its financial results for the third fiscal quarter that had ended on September 30, 2021. Hence, it may be the right time for investors to take a look at some of the highlights from BiondVax Pharmaceuticals’ financial results.

During the course of the quarter, the Israeli company spent NIS (New Israeli Shekels) 2 million on research and development expenses. That actually reflected a significant drop from the research and development expenses of as much as NIS12.6 million in the prior year period.

On the other hand, the operating expenses for the third quarter stood at NIS 8.2 million and that was again a significant drop from the NIS 20 million in operating expenses that had been clocked by BiondVax Pharmaceuticals in the year ago period. It is going to be interesting to see if the stock can actually make a recovery any time soon.

Traders Corner

BVXV stock is trading below the 20-Day and 50-Day Moving averages of $2.02 and $2.17 respectively. The stock is trading in oversold zone with the RSI at 30.  The stock is down 17% in the past month.