The stock of Brickell Biotech, Inc. (NASDAQ:BBI) is now priced at $0.94 and the shares are 0.13 points up or 15.55% higher compared to its previous closing price of $0.81. The stock had 9.527 million contracts set over the past session. BBI shares’ daily volume is compared to its average trading volume at 2.671 million shares. However, it has a float of 24.65 million and although its performance was 13.46% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the BBI share price recently placing at $0.8149 to $0.97. However, some brokerage firms have priced the stock below the average, including one that has called $5.

The shorts are running away from the Brickell Biotech, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the BBI shares have declined. Short interest in the stock represents just 0.3% of its float, but the volume has dropped by -50703. The volume of shorted shares dropped to 74940 from 125643 shares over the last two weeks. The average intraday trading volume has been 487969 shares, which means that days to cover moved to roughly 1.

In the last trading session, Brickell Biotech, Inc. (NASDAQ:BBI) raised by $0.1117 over the week and gained $0.0257 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $6.405. The stock recorded its established 52-week high on 08/29/19.

Since 07/14/20, the stock has traded to a low of $0.7101 at 32.62%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of -0.19. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.

Looking at current readings, Brickell Biotech, Inc.’s two-week RSI is 56.44. This suggests that the stock is neutral at the moment and that BBI shares’ price movement remains stable. The stochastic readings are equally revealing at 27.69% meaning the BBI share price is currently in overbought territory.

The technical chart shows that the BBI stock will likely settle at between $1.0028 and $1.064 per share. However, if the stock dips below $0.8477, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.7538.

Currently, the stock is trading in the green of MACD, with a reading of 0.0293. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.

Analysts at Maxim Group assigned BBI a rating of Buy in their intiating review released on August 28. Oppenheimer analysts see the stock as a Outperform with a target price of $5 in a flash note released to investors on August 25 initiating covering the stock.

The average rating for the BBI equity is 3 and is currently gathering a bullish momentum. Of 1 analysts tracking Brickell Biotech, Inc. polled by Reuters, 0 rated BBI as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.

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