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

Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 18,380 shares, a drop of 93.2% from the September 15th total of 271,866 shares. Based on an average trading volume of 722,370 shares, the short-interest ratio is currently 0.0 days. Approximately 1.8% of the shares of the stock are short sold.

Hedge Funds Weigh In On Biodexa Pharmaceuticals

An institutional investor recently bought a new stake in Biodexa Pharmaceuticals stock. Sabby Management LLC bought a new position in shares of Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 190,658 shares of the company’s stock, valued at approximately $433,000. Biodexa Pharmaceuticals accounts for 0.6% of Sabby Management LLC’s portfolio, making the stock its 10th largest holding. Sabby Management LLC owned 28.04% of Biodexa Pharmaceuticals at the end of the most recent quarter. 17.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Biodexa Pharmaceuticals from a “sell (e+)” rating to a “sell (e)” rating in a report on Monday, September 28th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Biodexa Pharmaceuticals presently has a consensus rating of “Sell”.

Biodexa Pharmaceuticals Trading Down 12.1%

BDRX stock opened at $0.46 on Friday. The firm has a 50 day moving average price of $1.00 and a 200-day moving average price of $2.35. Biodexa Pharmaceuticals has a 52-week low of $0.45 and a 52-week high of $52.05.

Shares of Biodexa Pharmaceuticals are scheduled to reverse split on Monday, October 26th. The 1-8 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, October 25th.

About Biodexa Pharmaceuticals

Biodexa Pharmaceuticals plc, formerly known as Midatech Pharma plc, is a biopharmaceutical company focused on developing medicines for diseases with significant unmet medical needs. The company’s work has centered on oncology, rare diseases and conditions that are difficult to treat with conventional drug-delivery methods.

Biodexa’s development programs have included MTX110, a proprietary aqueous formulation of panobinostat being investigated for direct administration into brain tumors, including diffuse intrinsic pontine glioma.