Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) Short Interest Down 51.5% in May

Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) was the target of a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 10,140 shares, a drop of 51.5% from the May 14th total of 20,907 shares. Based on an average daily trading volume, of 16,983 shares, the short-interest ratio is presently 0.6 days. Approximately 0.5% of the company’s stock are short sold.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Wall Street Zen downgraded Biodexa Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, March 30th. Weiss Ratings lowered shares of Biodexa Pharmaceuticals from a “sell (e+)” rating to a “sell (e)” rating in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Biodexa Pharmaceuticals currently has an average rating of “Sell”.

Biodexa Pharmaceuticals Trading Down 1.6%

Shares of NASDAQ:BDRX traded down $0.05 during midday trading on Friday, hitting $3.03. The company had a trading volume of 12,105 shares, compared to its average volume of 22,841. Biodexa Pharmaceuticals has a 12-month low of $2.86 and a 12-month high of $66.50. The company has a fifty day moving average of $3.52 and a two-hundred day moving average of $8.76.

Biodexa Pharmaceuticals (NASDAQ:BDRX) last posted its quarterly earnings data on Friday, March 27th. The company reported $3.52 EPS for the quarter, topping the consensus estimate of ($0.01) by $3.53.

Institutional Investors Weigh In On Biodexa Pharmaceuticals

A hedge fund recently bought a new stake in Biodexa Pharmaceuticals stock. Armistice Capital LLC bought a new position in Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 100,000 shares of the company’s stock, valued at approximately $227,000. Armistice Capital LLC owned about 14.71% of Biodexa Pharmaceuticals at the end of the most recent quarter. Institutional investors and hedge funds own 17.51% of the company’s stock.

About Biodexa Pharmaceuticals

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.