Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) Sees Large Increase in Short Interest

Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) was the recipient of a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 67,330 shares, a growth of 759.2% from the June 15th total of 7,836 shares. Approximately 3.4% of the company’s stock are short sold. Based on an average daily trading volume, of 399,320 shares, the days-to-cover ratio is presently 0.2 days.

Biodexa Pharmaceuticals Price Performance

BDRX traded down $0.10 during mid-day trading on Friday, reaching $2.49. 16,657 shares of the company traded hands, compared to its average volume of 224,157. The company’s fifty day moving average price is $3.22 and its 200-day moving average price is $5.61. Biodexa Pharmaceuticals has a 52-week low of $2.40 and a 52-week high of $66.50.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BDRX shares. Weiss Ratings raised Biodexa Pharmaceuticals from a “sell (e)” rating to a “sell (e+)” rating in a research report on Thursday, June 18th. Wall Street Zen cut Biodexa Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, March 30th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Biodexa Pharmaceuticals presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Biodexa Pharmaceuticals

An institutional investor recently bought a new position in Biodexa Pharmaceuticals stock. Armistice Capital LLC purchased a new position in Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 100,000 shares of the company’s stock, valued at approximately $227,000. Armistice Capital LLC owned approximately 14.71% of Biodexa Pharmaceuticals as of its most recent SEC filing. 17.51% of the stock is owned by institutional investors and hedge funds.

Biodexa Pharmaceuticals Company Profile

Biodexa Pharmaceuticals Plc, a clinical stage biopharmaceutical company, focuses on developing a pipeline of products for the treatment of Type 1 diabetes and rare/orphan cancers of the brain. Its lead product candidate Tolimidone, a selective activator of the lyn kinase enzyme, currently under Phase II studies for the treatment of Type 1 diabetes. The company is also developing MTX110, which is currently in Phase I studies for the treatment of diffuse intrinsic recurrent glioblastoma, diffuse midline glioma, and medulloblastoma; and MTD217, a program centered around a water-soluble drug formulation that can be easily infused or injected simultaneously, or sequentially, directly into the cancer microenvironment, currently under preclinical studies for the treatment of leptomeningeal disease.