Medicus Pharma Ltd (NASDAQ:MDCX) Shares Shorted: Short Interest Down 98.8% in October

Medicus Pharma Ltd (NASDAQ:MDCX) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 43,628 shares, a drop of 98.8% from the September 30th total of 3,686,994 shares. Approximately 3.8% of the shares of the company are short sold. Based on an average trading volume of 116,893 shares, the days-to-cover ratio is presently 0.4 days.

Medicus Pharma Stock Down 2.4%

MDCX opened at $2.45 on Wednesday. Medicus Pharma has a twelve month low of $2.40 and a twelve month high of $129.99. The company has a 50-day simple moving average of $7.94 and a 200 day simple moving average of $24.54.

Medicus Pharma (NASDAQ:MDCX) last released its earnings results on Wednesday, August 12th. The company reported ($10.50) EPS for the quarter, missing the consensus estimate of ($6.38) by ($4.12). Sell-side analysts anticipate that Medicus Pharma will post -36.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MDCX. Wall Street Zen downgraded Medicus Pharma to a “strong sell” rating in a research report on Saturday, October 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of Medicus Pharma in a report on Friday, October 2nd. Finally, Alliance Global Partners restated a “buy” rating on shares of Medicus Pharma in a research report on Monday, September 14th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Medicus Pharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $450.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Interchange Capital Partners LLC boosted its holdings in shares of Medicus Pharma by 33.9% in the 3rd quarter. Interchange Capital Partners LLC now owns 2,124,910 shares of the company’s stock valued at $343,000 after purchasing an additional 538,039 shares in the last quarter. Sterling Investment Advisors Ltd. acquired a new position in shares of Medicus Pharma during the 2nd quarter worth $45,000. Finally, Private Advisor Group LLC lifted its position in shares of Medicus Pharma by 36.8% during the 1st quarter. Private Advisor Group LLC now owns 240,055 shares of the company’s stock worth $110,000 after buying an additional 64,560 shares during the last quarter.

About Medicus Pharma

Medicus Pharma Ltd. (NASDAQ:MDCX) is a life sciences company focused on acquiring, developing and commercializing pharmaceutical and medical products. The company seeks to identify therapies and healthcare technologies with potential for commercialization and works to advance them through regulatory, clinical and market-development processes.

Medicus Pharma’s activities are centered on specialty healthcare markets, including pharmaceutical and medical products designed to address unmet patient and provider needs.