Epizyme Inc (NASDAQ:EPZM) Stock Continues to Trend Lower: Down 19% in a Week

Commercial stage biopharmaceutical firm Epizyme Inc (NASDAQ:EPZM) continue to be in the middle of a selloff on Thursday and ended the day with a decline of as much as 6.50%.

Market Stats

On Thursday, EPZM stock lost 6.59% at $3.8300 with more than 1.67 million shares, compared to its average volume of 852.79K shares. The stock has moved within a range of $3.8150 – 4.1600 after opening the trade at $4.1600.

Epizyme Announces Updates to Its Board of Directors

That took the losses recorded by the stock over the course of the past week to as much as 18.50%. In this situation, it is important for investors to figure out if the decline in the Epizyme stock could be an opportunity or not. Yesterday, the company came into focus after it announced a total of two new appointments to the Board of Directors.

One of the appointees was Roy A Beveridge and the other was Carol Stuckley. Beveridge is an M.D. and has experience as an executive in the pharmaceutical sector. In addition to that, it should be noted that he had also been a finance executive. On the other hand, Stuckley is an MBA by education.

The appointment was made after Andrew R Allen resigned from his position on the board of Epizyme. Allen had been a member of the board since as far back as 2014. However, the news of the new appointments was not welcomed with any enthusiasm by the investors.

Key Quote

“We are delighted to welcome Roy and Carol to our Board of Directors as we broaden our portfolio and solidify our leadership in epigenetic therapies,” said Grant Bogle, President and Chief Executive Officer of Epizyme.

Traders Corner

EPZM stock is trading above the 20-Day and 50-Day Moving averages of $4.51 and $4.88 respectively. Moreover, the stock is trading above the 200-Day moving average of $7.23. The stock is down 14% in the past month.