Why Evofem Biosciences' Stock Is Trading Lower Today

Evofem Biosciences EVFM shares are trading lower after the company priced its 50 million shares common stock offering at $1 per share.

Evofem Biosciences' stock has been falling Tuesday, down 35.86% to a price of $0.82. Tuesday the stock has been traded at a volume of 84.68 million, about 2239.77% of its recent 30-day volume average of 3.78 million.

The stock's 50-day moving average was $1.82 at the time this article was published. Over the past fifty-two weeks, the price has risen as high as $6.87 and fallen to a low of $1.12.

If you're looking for timely and concise explanations of why a stock is moving, check out Benzinga Pro. Subscribers get ‘Why Is It Moving' alerts as soon as our research team identifies the cause of the price action in a stock. Click here to learn more.