MabVax Therapeutics Holdings, Inc. (MBVX) Formed Bearish Wedge Down Pattern; Sellers Are Thriving

June 26, 2018 - By Winifred Garcia

MabVax Therapeutics Holdings, Inc. (NASDAQ:MBVX) Logo

The stock of MabVax Therapeutics Holdings, Inc. (MBVX) formed a down wedge with $0.85 target or 9.00 % below today’s $0.93 share price. The 8 months wedge indicates high risk for the $8.35 million company. If the $0.85 price target is reached, the company will be worth $751,410 less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 3.49% or $0.0314 during the last trading session, reaching $0.9316. About 11,936 shares traded. MabVax Therapeutics Holdings, Inc. (NASDAQ:MBVX) has declined 79.70% since June 27, 2017 and is downtrending. It has underperformed by 92.27% the S&P500.

More notable recent MabVax Therapeutics Holdings, Inc. (NASDAQ:MBVX) news were published by: Businesswire.com which released: “EQUITY ALERT: Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against MabVax Therapeutics …” on June 05, 2018, also Digitaljournal.com with their article: “NASDAQ:MBVX Shareholder Notice: Lawsuit Alleges Misleading Statements by MabVax Therapeutics Holdings, Inc” published on June 19, 2018, Businesswire.com published: “Glancy Prongay & Murray LLP Files a Securities Class Action on Behalf of MabVax Therapeutics Holdings Investors …” on June 04, 2018. More interesting news about MabVax Therapeutics Holdings, Inc. (NASDAQ:MBVX) were released by: Globenewswire.com and their article: “SHAREHOLDER ALERT: Brower Piven Notifies Investors of Class Action Lawsuit And Encourages Those Who Have …” published on June 06, 2018 as well as Businesswire.com‘s news article titled: “Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of MabVax Therapeutics …” with publication date: June 13, 2018.

MabVax Therapeutics Holdings, Inc., a clinical stage biopharmaceutical company, discovers, develops, and commercializes proprietary human monoclonal antibody products and vaccines for the treatment of various cancers. The company has market cap of $8.35 million. The firm has a pipeline of human monoclonal antibody products based on the protective immune responses generated by patients who have been immunized against targeted cancers. It currently has negative earnings. The Company’s lead cancer vaccines targeting recurrent sarcoma and ovarian cancer are in proof of concept Phase II multi-center clinical trials.

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