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EnteroMedics Down 56.0%, Shares Slide into the Red (ETRM)

Published on Fri, 02/08/2013 - 11:23
By Robert Cotter

EnteroMedics (NASDAQ:ETRM) is one of today's worst performing low-priced stocks, down 56.0% to $1.25 on 19.4x average daily volume. EnteroMedics has traded 8.6 million shares thus far today, vs. average volume of 444,000 shares per day. The stock has underperformed the Dow (-56.0% to the Dow's 0.4%) and underperformed the S&P 500 (-56.0% to the S&P's 0.5%) during today's trading.

EnteroMedics share prices have moved between a 52-week high of $4.40 and the current low of $1.19 and are currently at $1.25 per share. The 200-day and 50-day moving averages have moved 0.28% higher and 0.38% lower over the past week, respectively.

EnteroMedics has overhead space with shares priced $1.25, or 71.4% below the average consensus analyst price target of $4.38. The stock should find initial resistance at its 50-day moving average (MA) of $2.72 and further resistance at its 200-day MA of $3.18.

EnteroMedics Inc. is a development stage medical device company focused on the design and development of devices that use neuroblocking technology to treat obesity and other gastrointestinal disorders.

By Robert Cotter
rcotter@fnno.com

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