What's Going On With Femasys Stock Today?

Femasys Inc. FEMY shares are trading lower Tuesday. The stock has been volatile since the company received FDA 510(k) clearance for FemaSeed, an infertility treatment, towards the end of September.

What To Know: On Sept. 26, shares of the stock surged on news of the FDA clearance for FemaSeed, although the stock pulled back the following day. While a price target increase last Friday from HC Wainwright & Co. gave a boost to the stock,Tuesday was marked by a strong selloff in Femasys shares, trading lower by nearly 40%.

It is also worth noting that on Tuesday, the company announced that it successfully completed the annual Medical Device Single Audit Program (MDSAP) surveillance audit and reported no nonconformances and no findings.

Kathy Lee-Sepsick, founder, president and CEO of Femasys, commented on the news, stating, "Completion of the MDSAP annual surveillance audit with no nonconformances and no findings demonstrates the robustness of the Femasys Quality System and our continued commitment to compliance that extends to all of our in-house manufacturing capabilities. We look forward to continuing to advance our much-needed innovative technologies in the U.S., as well as other countries around the world, via the MDSAP program."

Additionally, according to data from Benzinga Pro, Femasys stock experienced above-average trading volume of 16.81 million shares on Tuesday compared to its average volume of 11.07 million shares.

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FEMY Price Action: Shares of FEMY were down 33.7% at $2.58 at the time of publication, according to Benzinga Pro.

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