While there hasn’t been any major news pertaining to ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) shares continue to slide quite dramatically i early afternoon trading. Over the last six weeks shares are down over 40% and there seems to be no end in sight to the drop. Shares of the biopharmaceutical company are down for the sixth straight trading day in a row, as the stock trades at nearly half of its average price target of $15.63.
While this move today seems to be caused more by technical data than the fundamentals of the company, good news certainly would do a long way in halting this slide. The stock is down 4.38% or $0.36 following the news, hitting $7.86 per share. Approximately 1.52 million shares traded hands. ZIOP shares have declined 16.63% since May 19, 2015 and are currently downtrending. It has underperformed the S&P500 by 14.37%.
ZIOPHARM Oncology, Inc. is a biopharmaceutical company. The company has a market cap of $1.08 billion. The Firm is engaged in the acquisition, development and commercialization of a portfolio of cancer therapies through synthetic biology. It currently has negative earnings. The Company’s pipeline includes a number of cell therapeutics in both clinical and preclinical testing which are focused on hematologic and solid tumor malignancies.