Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) Sees Significant Decline in Short Interest

Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) was the target of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 9,927 shares, a drop of 85.3% from the June 30th total of 67,330 shares. Based on an average daily volume of 18,424 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.5% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BDRX shares. Wall Street Zen downgraded Biodexa Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, March 30th. Weiss Ratings upgraded Biodexa Pharmaceuticals from a “sell (e)” rating to a “sell (e+)” rating in a report on Thursday, June 18th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Biodexa Pharmaceuticals has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Biodexa Pharmaceuticals stock. Armistice Capital LLC bought a new stake in Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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. Hedge funds and other institutional investors own 17.51% of the company’s stock.

Biodexa Pharmaceuticals Stock Performance

NASDAQ:BDRX traded down $0.03 during trading hours on Friday, reaching $1.65. 63,546 shares of the company were exchanged, compared to its average volume of 412,269. The stock has a 50 day simple moving average of $2.84 and a 200 day simple moving average of $4.82. Biodexa Pharmaceuticals has a 52-week low of $1.64 and a 52-week high of $59.40.

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.