Petros Pharmaceuticals, Inc. (NASDAQ:PTPI) saw a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 64,100 shares, a drop of 19.0% from the March 31st total of 79,100 shares. Based on an average daily volume of 82,300 shares, the short-interest ratio is presently 0.8 days. Currently, 1.0% of the company’s shares are sold short.
Shares of NASDAQ PTPI traded down $0.05 during midday trading on Tuesday, reaching $3.10. 9,001 shares of the stock were exchanged, compared to its average volume of 75,092. The stock’s 50 day simple moving average is $3.31. The stock has a market capitalization of $30.28 million, a P/E ratio of -0.83 and a beta of 2.12. Petros Pharmaceuticals has a 52-week low of $1.80 and a 52-week high of $5.96.
A number of hedge funds and other institutional investors have recently made changes to their positions in PTPI. NorthRock Partners LLC purchased a new stake in Petros Pharmaceuticals during the fourth quarter valued at about $1,694,000. Renaissance Technologies LLC purchased a new position in Petros Pharmaceuticals in the fourth quarter valued at approximately $630,000. Acorn Financial Advisory Services Inc. ADV purchased a new stake in Petros Pharmaceuticals during the fourth quarter worth approximately $276,000. CM Management LLC acquired a new stake in shares of Petros Pharmaceuticals in the fourth quarter worth $198,000. Finally, Cannell Peter B & Co. Inc. purchased a new position in shares of Petros Pharmaceuticals in the 4th quarter valued at $112,000. Hedge funds and other institutional investors own 39.57% of the company’s stock.
Petros Pharmaceuticals, Inc engages in identifying, acquiring, developing, and commercializing therapeutics for men's health issues in the United States and internationally. It operates through two segments, Prescription Medications and Medical Devices. The company develops H100, a novel and patented topical formulation candidate for the treatment of acute Peyronie's disease.
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