What's Going On With Femasys Stock Today?
Portfolio Pulse from Ryan Gustafson
Femasys Inc. (NASDAQ:FEMY) shares traded lower on Tuesday, following a period of volatility since the company received FDA 510(k) clearance for FemaSeed, an infertility treatment, in late September. Despite a price target increase from HC Wainwright & Co. last Friday, Femasys shares fell by nearly 40% on Tuesday. The company also announced the successful completion of the annual Medical Device Single Audit Program (MDSAP) surveillance audit with no nonconformances and no findings.
October 03, 2023 | 6:56 pm
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Femasys Inc. shares fell by nearly 40% on Tuesday, despite recent positive developments including FDA clearance for FemaSeed and a successful MDSAP surveillance audit.
The sharp drop in Femasys' share price, despite recent positive developments, suggests that the market may have overreacted to the FDA clearance news, leading to a correction. The successful MDSAP surveillance audit is a positive sign, but it was not enough to offset the selling pressure.
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IMPORTANCE 80
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