Miracle Mile Advisors adds CytRx Corporation (CYTR) to its portfolio

CytRx Corporation (CYTR) : Miracle Mile Advisors added new position in CytRx Corporation during the most recent quarter end. The investment management firm now holds 14,286 shares of CytRx Corporation which is valued at $8,614 , the company said in a statement filed on Jul 25, 2016 with the SEC.

Other Hedge Funds, Including , Financial Architects Inc added CYTR to its portfolio by purchasing 800 company shares during the most recent quarter which is valued at $482.Simplex Trading boosted its stake in CYTR in the latest quarter, The investment management firm added 2,611 additional shares and now holds a total of 20,826 shares of CytRx Corporation which is valued at $12,371. Bnp Paribas Arbitrage Sa added CYTR to its portfolio by purchasing 2,583 company shares during the most recent quarter which is valued at $5,838.

CytRx Corporation opened for trading at $0.627 and hit $0.68 on the upside on Friday, eventually ending the session at $0.65, with a gain of 4.84% or 0.03 points. The heightened volatility saw the trading volume jump to 99,89,265 shares. Company has a market cap of $43 M.

Many Wall Street Analysts have commented on CytRx Corporation. Shares were Reiterated by FBR Capital on Jul 12, 2016 to “Outperform” and Lowered the Price Target to $ 3 from a previous price target of $8 .

CytRx Corporation is a biopharmaceutical research and development company specializing in oncology. The company is focused on the clinical development of aldoxorubicin its modified version of a chemotherapeutic agent. Aldoxorubicin is a conjugate of the commonly prescribed chemotherapeutic agent doxorubicin that binds to circulating albumin in the bloodstream and is concentrated at the site of tumors. It consists of (6-Maleimidocaproyl) hydrazine an acid-sensitive molecule that is conjugated to doxorubicin. Its laboratory in Freiburg Germany is conducting discovery and translational research to create drug candidates that utilize linker technologies that couple chemotherapeutic agents and proteins either inside the body or externally and then concentrate drug in tumors.

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