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To Buy Or Not To Buy Enzo Biochem Inc. (NYSE:ENZ) Stock?

Enzo Biochem Inc. (NYSE:ENZ) price on Friday, March 17, rose 89.08% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $2.25.

A look at the stock’s price movement, the close in the last trading session was $1.19, moving within a range at $1.96 and $2.3899. The beta value (5-Year monthly) was 0.88. Turning to its 52-week performance, $3.19 and $1.00 were the 52-week high and 52-week low respectively. Overall, ENZ moved 75.78% over the past month.

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Enzo Biochem Inc.’s market cap currently stands at around $114.52 million, with investors looking forward to this quarter’s earnings report slated for Jun 07, 2023 – Jun 12, 2023.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that ENZ is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.

ENZ’s current price about 93.30% and 70.61% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 80.89, while 7-day volatility ratio is 14.17% and 9.24% in the 30-day chart. Further, Enzo Biochem Inc. (ENZ) has a beta value of 0.85, and an average true range (ATR) of 0.18.

In the market, a comparison of Enzo Biochem Inc. (ENZ) and its peers suggest the former has performed considerably stronger. Data shows ENZ’s intraday price has changed 89.08% in last session and -28.12% over the past year. Comparatively, Quest Diagnostics Incorporated (DGX) has moved -1.84% on the day and only -8.21% in the past 12 months. Looking at another peer, we see that NeoGenomics Inc. (NEO) price has dipped -6.74% on the day. However, the stock is 14.88% off its price a year ago. Moreover, RadNet Inc. (RDNT) is also down -1.63% in trading on the day while keeping a an uptrend of 7.95% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -1.10% and -1.19% respectively in the last trading.

If we refocus on Enzo Biochem Inc. (NYSE:ENZ), historical trading data shows that trading volumes averaged 3.9 million over the past 10 days and 110.68K over the past 3 months. The company’s latest data on shares outstanding shows there are 48.72 million shares.

The 9.70% of Enzo Biochem Inc.’s shares are in the hands of company insiders while institutional holders own 42.20% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 0.37 million on Jan 30, 2023, giving us a short ratio of 8.91. The data shows that as of Jan 30, 2023 short interest in Enzo Biochem Inc. (ENZ) stood at 0.76% of shares outstanding, with shares short rising to 0.34 million registered in Dec 29, 2022. Current price change has pushed the stock 57.34% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ENZ stock continues to rise going into the next quarter.

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