Clarus Therapeutics Holdings Inc (NASDAQ:CRXT) Stock Attempts To Rebound After The Fall
A look at the action in the premarket trading period can often give investors a fair idea about the direction of the market for the rest of the day and this morning, many might be looking into the Clarus Therapeutics Holdings Inc (NASDAQ:CRXT) stock.
Market Stats
On Thursday, CRXT stock slid 5.47% to $4.6700 with more than 582.77K shares, compared to its average volume of 2.33 million shares. The stock has moved within a range of $4.4100 – 4.9499 after opening trade at $4.8700.
Earnings Recap
The company has seen its stock jump by as much as 3% in the premarket trading period so far and it was possibly due to the announcement of the company’s financial results for the fiscal third quarter of 2021 yesterday. In light of the announcement from the company, it might be a good move from investors to take a closer look at some of the key highlights.
In the third fiscal quarter, the company managed to generate revenues of as much as $4.3 million and that reflected a massive 92.7% year on year jump from the $2.2 million in revenues that it had generated in the prior year period. On the other hand, the gross margins stood at 88.1% for the quarter but that was lower than the 88.4% in gross margins that Clarus had recorded in the prior year period. It might be a good idea for investors to keep the stock in their watch lists for today.
Key Quote
“We have achieved some exciting milestones this quarter,” said Dr. Robert Dudley, President and Chief Executive Officer of Clarus and founder of its wholly-owned operating subsidiary, Clarus Therapeutics, Inc. “JATENZO continues to grow in prescriptions with positive feedback from both patients and physicians. We remain very enthusiastic and optimistic as we focus on executing our plans to increase awareness about the only FDA-approved oral softgel with flexible dosing options in the testosterone replacement therapy market by educating physicians and patients alike about the attributes of JATENZO.”
Traders Corner
CRXT stock is trading above the 20-Day and 50-Day Moving averages of $4.78 and $5.25 respectively. However, the stock is trading below the 200-Day moving average of $58.77. The stock is down 10% in the past month.
