Retension Pharmaceuticals, Inc. (NASDAQ:RTSN) Sees Significant Increase in Short Interest

Retension Pharmaceuticals, Inc. (NASDAQ:RTSN) saw a significant growth in short interest in October. As of October 15th, there was short interest totaling 62,034 shares. Based on an average daily volume of 118,161 shares, the short-interest ratio is currently 0.5 days. Currently, 0.7% of the company’s stock are sold short.

Insider Activity

In other Retension Pharmaceuticals news, Director Franklin M. Berger purchased 10,000 shares of the stock in a transaction on Tuesday, October 13th. The shares were purchased at an average price of $12.00 per share, with a total value of $120,000.00. Following the acquisition, the director directly owned 10,000 shares in the company, valued at approximately $120,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric L. Keller bought 20,800 shares of the business’s stock in a transaction on Tuesday, October 13th. The stock was purchased at an average cost of $12.00 per share, with a total value of $249,600.00. Following the purchase, the chief executive officer owned 423,377 shares of the company’s stock, valued at $5,080,524. This represents a 5.17% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Analyst Upgrades and Downgrades

Separately, Guggenheim initiated coverage on shares of Retension Pharmaceuticals in a report on Monday. They set a “buy” rating and a $55.00 price target on the stock. One analyst has rated the stock with a Buy rating. According to MarketBeat.com, Retension Pharmaceuticals presently has an average rating of “Buy” and an average price target of $55.00.

Retension Pharmaceuticals Stock Up 12.6%

NASDAQ:RTSN opened at $12.79 on Monday. Retension Pharmaceuticals has a 1-year low of $9.66 and a 1-year high of $18.64.

Retension Pharmaceuticals Company Profile

We are a clinical-stage biopharmaceutical company focused on developing medicines for the treatment of hypertension and other cardiovascular diseases. Our product candidate, RTN-001, is a next-generation, once-daily, oral, small molecule phosphodiesterase-5 (“PDE-5”) inhibitor designed to reduce blood pressure by potentiating nitric oxide signaling, a key mechanism underlying the development and severity of hypertension. While first-generation PDE-5 inhibitors, such as Viagra (sildenafil), were originally studied in cardiovascular indications such as hypertension and angina, we believe they did not have adequate bioavailability and tissue penetration to impact the smooth muscle cells of the central vascular and cardiac tissues and thus failed to achieve clinically meaningful reductions in blood pressure.