Briacell Therap (NASDAQ:BCTX) Sees Significant Decline in Short Interest

Briacell Therap (NASDAQ:BCTX) was the target of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totaling 377,009 shares, a decrease of 56.6% from the May 31st total of 867,761 shares. Based on an average trading volume of 250,931 shares, the days-to-cover ratio is currently 1.5 days. Currently, 4.4% of the company’s stock are sold short.

Hedge Funds Weigh In On Briacell Therap

An institutional investor recently bought a new stake in Briacell Therap stock. Flagship Harbor Advisors LLC purchased a new position in shares of Briacell Therap (NASDAQ:BCTX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,000 shares of the company’s stock, valued at approximately $28,000. Flagship Harbor Advisors LLC owned 0.21% of Briacell Therap at the end of the most recent reporting period. Institutional investors own 15.42% of the company’s stock.

Briacell Therap Trading Up 4.3%

NASDAQ:BCTX traded up $0.14 during trading hours on Wednesday, hitting $3.38. The company’s stock had a trading volume of 63,687 shares, compared to its average volume of 344,521. The stock has a market capitalization of $29.41 million, a P/E ratio of -0.43 and a beta of 1.21. The stock has a fifty day moving average of $3.48 and a 200-day moving average of $4.63. Briacell Therap has a 52-week low of $2.60 and a 52-week high of $31.10.

Briacell Therap (NASDAQ:BCTX) last announced its quarterly earnings results on Tuesday, June 9th. The company reported ($0.99) earnings per share (EPS) for the quarter.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Briacell Therap in a report on Monday, April 20th. Wall Street Zen raised Briacell Therap from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

About Briacell Therap

BriaCell Therapeutics Corp., a clinical stage immuno-oncology company, engages in developing targeted immunotherapies to transform cancer care. Its lead candidate is Bria-IMT, a targeted cell-based immunotherapy that is being evaluated in a pivotal Phase 3 combination study for metastatic breast cancer. The company is also developing Bria-OTS, a platform of personalized off-the-shelf cell-based immunotherapies, which is being evaluated in a Phase 1/2 clinical studies targeting breast cancer with extension to prostate cancer and other cancers.