Stocks of Ritter Pharmaceuticals, Inc. (NASDAQ:RTTR) Vault Upon News That Knoll Capital Management Has Taken New Position

Knoll Capital Management has acquired 526,903 common shares of Ritter Pharmaceuticals, Inc. (NASDAQ:RTTR).  The stake amounts to 6.14% of the company’s outstanding stock.

Fred Knoll‘s Knoll Capital Management reported acquiring 526,903 common shares of Ritter Pharmaceuticals Inc (NASDAQ:RTTR) via a 13G filing recently filed with the US Securities and Exchange Commission. The position represents a new addition to Knoll Capital Management’s portfolio, and the stake accounts for 6.14% of the company’s outstanding stock.

Ritter Pharmaceuticals, is a pharmaceutical company that works on developing therapeutics for treating gastrointestinal disorders. Since the beginning of the year, the company’s stock has gained 4.12%. In its last financial report, for the second quarter, Ritter Pharmaceuticals’ disclosed a net loss of $4.1 million or $0.48 per share, which compares to a loss of $2.3 million or $4.18 per share for the corresponding quarter a year earlier. The company did not generate any revenue during the period.

Among 749 hedge funds from our database, three were bullish on Ritter Pharmaceuticals (NASDAQ:RTTR) at the end of June, same as in the earlier quarter. Those smart money managers were Kevin Kotler‘s Broadfin Capital, which held $1.18 million worth of Ritter Pharmaceuticals’ shares, Julian and Felix Baker’s Baker Bros. Advisors, which owned a position worth $612,000, and Adam Usdan’s Trellus Management Company with a $28,000 worth a position.

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Shares of Ritter Pharmaceuticals, Inc. (NASDAQ:RTTR) are actively moving +12.36% thus far today on the news and have traded in the range of $1.76 – 2.18 during the session.  A number of research firms have recently weighed in on the stock, providing future price targets. The covering firms currently have a consensus one-year price target of $5.33 on the stock.  This is according to brokerage analysts polled by Thomson Reuters First Call.  This is the average number from the individual targets provided by the firms.  Analysts are projecting earnings per share of $0.00 for the next fiscal quarter.  For the current year, analysts are predicting earnings of $-1.38 per share according to First Call.

In looking at where the stock is trading on a technical level, the stock is trading +36.72% away from its 50-day moving average of $1.46.  Based on the most recent available data, the equity is -24.33% off of its 52-week high of $2.63 and +102.85% away from its 52-week low which is $0.98.

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Today, the stock opened at $1.78 and the last bid at the time of writing stood at $1.99.  During the session thus far, the equity dipped down to $1.76 and touched $2.18 as the high point.  Ritter Pharmaceuticals, Inc. (NASDAQ:RTTR) has a market cap of $17.08M and has seen an average daily volume of 74903 over the past three months.

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