NeuBase Therapeutics, Inc. (NASDAQ:NBSE) Sees Large Drop in Short Interest

NeuBase Therapeutics, Inc. (NASDAQ:NBSE) saw a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 80,500 shares, a drop of 59.7% from the February 29th total of 199,800 shares. Based on an average daily trading volume, of 227,500 shares, the days-to-cover ratio is presently 0.4 days. Approximately 2.7% of the shares of the company are sold short.

Hedge Funds Weigh In On NeuBase Therapeutics

A number of large investors have recently made changes to their positions in the company. First Manhattan Co. acquired a new position in shares of NeuBase Therapeutics during the 1st quarter worth approximately $26,000. State Street Corp grew its position in NeuBase Therapeutics by 18.4% during the first quarter. State Street Corp now owns 68,687 shares of the company’s stock worth $129,000 after buying an additional 10,674 shares in the last quarter. Royal Bank of Canada increased its stake in NeuBase Therapeutics by 64.3% during the 1st quarter. Royal Bank of Canada now owns 114,473 shares of the company’s stock worth $215,000 after acquiring an additional 44,791 shares during the period. Renaissance Technologies LLC increased its stake in NeuBase Therapeutics by 75.5% during the 1st quarter. Renaissance Technologies LLC now owns 214,838 shares of the company’s stock worth $404,000 after acquiring an additional 92,452 shares during the period. Finally, Worth Venture Partners LLC raised its holdings in NeuBase Therapeutics by 11.9% in the 1st quarter. Worth Venture Partners LLC now owns 256,553 shares of the company’s stock valued at $482,000 after acquiring an additional 27,300 shares in the last quarter. Institutional investors own 12.37% of the company’s stock.

NeuBase Therapeutics Trading Up 3.5 %

NBSE stock traded up $0.02 during mid-day trading on Thursday, hitting $0.45. 282,210 shares of the company were exchanged, compared to its average volume of 243,921. NeuBase Therapeutics has a 1-year low of $0.40 and a 1-year high of $5.40. The stock has a market capitalization of $1.68 million, a PE ratio of -0.06 and a beta of 0.88. The business has a 50 day simple moving average of $0.78 and a 200-day simple moving average of $0.78.

NeuBase Therapeutics Company Profile

NeuBase Therapeutics, Inc, a preclinical-stage biopharmaceutical company, focuses on the development of therapies to treat rare genetic diseases and cancers caused by mutant genes. The company's proprietary modular peptide-nucleic acid antisense oligo (PATrOL) platform focuses on addressing Huntington's disease (HD) and myotonic dystrophy, as well as other genetic disorders, and cancer and oncology applications.