What's Going On With Kintara Therapeutics Stock?

Kintara Therapeutics, Inc. KTRA shares are volatile Wednesday after the company announced it is seeking withdrawal of its registration statement for a public offering of securities.

The Details:

According to documents filed with the SEC, Kintara filed the registration withdrawal request on Wednesday for a registration statement on Form S-1 initially filed on Oct. 4, 2023.

Kintara shares are moving on heavy trading volume as inventors digest the SEC filing. According to data from Benzinga Pro, more than 100 million shares have already been traded in the session, compared to the stock’s 100-day average of just over 10 million shares.

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Should I Sell My KTRA Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of Kintara Therapeutics have decreased by 97.05% in the past year. An investor who bought shares of Kintara Therapeutics at the beginning of the year would take a loss of $0.06 per share if they sold it today. The stock has fallen 14.99% over the past month, meaning an investor who bought shares on Feb. 1 would see a capital loss of $0.03.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Kintara Therapeutics stock currently has an RSI of 23.07, indicating oversold conditions.

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KTRA Price Action: According to Benzinga Pro, Kintara Therapeutics shares are up 13% at 9 cents at the time of publication.

Image: Akava Photo from Pixabay