Gemphire Therapeutics (NASDAQ:GEMP) Trading 8.6% Higher

Gemphire Therapeutics Inc (NASDAQ:GEMP)’s stock price traded up 8.6% during trading on Friday . The stock traded as high as $0.38 and last traded at $0.38, 324,200 shares changed hands during mid-day trading. An increase of 162% from the average session volume of 123,752 shares. The stock had previously closed at $0.35.

Separately, ValuEngine upgraded shares of Gemphire Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.

The company’s fifty day simple moving average is $0.36 and its 200 day simple moving average is $0.65.

An institutional investor recently raised its position in Gemphire Therapeutics stock. Vanguard Group Inc. raised its stake in Gemphire Therapeutics Inc (NASDAQ:GEMP) by 13.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 187,588 shares of the company’s stock after purchasing an additional 22,096 shares during the period. Vanguard Group Inc. owned 1.32% of Gemphire Therapeutics worth $152,000 at the end of the most recent quarter. Institutional investors and hedge funds own 20.99% of the company’s stock.

Gemphire Therapeutics Company Profile (NASDAQ:GEMP)

Gemphire Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing therapies for the treatment of dyslipidemia and nonalcoholic fatty liver disease (NAFLD/NASH). The company is developing gemcabene, a novel, once-daily, and oral therapy for dyslipidemia conditions where patients are unable to reach their lipid lowering goals, including patients already receiving maximally tolerated statin therapy.

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