Medicus Pharma Ltd (NASDAQ:MDCX) Shares Shorted: Short Interest Up 49.0% in September

Medicus Pharma Ltd (NASDAQ:MDCX) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 4,998,570 shares, an increase of 49.0% from the August 31st total of 3,355,388 shares. Approximately 8.6% of the shares of the company are sold short. Based on an average trading volume of 16,776,075 shares, the days-to-cover ratio is currently 0.3 days.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Medicus Pharma in a research report on Wednesday, July 8th. Alliance Global Partners reissued a “buy” rating on shares of Medicus Pharma in a report on Monday, September 14th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Medicus Pharma Trading Up 1.3%

Medicus Pharma stock traded up $0.00 during trading hours on Friday, reaching $0.16. 461,281 shares of the stock were exchanged, compared to its average volume of 4,071,373. Medicus Pharma has a twelve month low of $0.14 and a twelve month high of $2.78. The company has a market cap of $10.05 million, a P/E ratio of -0.06 and a beta of 0.32. The stock has a 50 day moving average of $0.24 and a two-hundred day moving average of $0.33.

Medicus Pharma (NASDAQ:MDCX) last issued its earnings results on Wednesday, August 12th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.08). On average, analysts expect that Medicus Pharma will post -0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Medicus Pharma

A hedge fund recently raised its position in Medicus Pharma stock. Private Advisor Group LLC raised its holdings in Medicus Pharma Ltd (NASDAQ:MDCX) by 36.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 240,055 shares of the company’s stock after purchasing an additional 64,560 shares during the quarter. Private Advisor Group LLC owned 0.61% of Medicus Pharma worth $110,000 as of its most recent SEC filing.

Medicus Pharma Company Profile

Medicus Pharma Ltd. is a life sciences company focused on the development, acquisition and commercialization of pharmaceutical and medical technologies. The company’s activities are centered primarily on specialty healthcare markets, including dermatology, wound care and medical aesthetics.

Medicus Pharma seeks to advance products and therapies intended to address underserved clinical needs and to expand access to innovative treatments. Its portfolio may include internally developed and acquired products, with commercialization efforts directed toward healthcare providers and patients in markets where the company has appropriate regulatory and distribution capabilities.

The company is based in Canada and trades on the Nasdaq Capital Market under the symbol MDCX.