PDS Biotechnology Corporation (NASDAQ:PDSB) Shares Shorted: Short Interest Down 56.8% in September

PDS Biotechnology Corporation (NASDAQ:PDSB) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 2,770,411 shares, a decline of 56.8% from the September 15th total of 6,406,521 shares. Currently, 5.4% of the company’s shares are sold short. Based on an average trading volume of 29,130,359 shares, the days-to-cover ratio is presently 0.1 days.

Analysts Set New Price Targets

PDSB has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of PDS Biotechnology from a “sell” rating to a “hold” rating in a research report on Monday, October 5th. HC Wainwright reaffirmed a “buy” rating on shares of PDS Biotechnology in a report on Wednesday, August 26th. Finally, Weiss Ratings raised PDS Biotechnology from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 28th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.00.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Everhart Financial Group Inc. purchased a new stake in PDS Biotechnology in the third quarter valued at approximately $29,000. Renaissance Technologies LLC increased its holdings in shares of PDS Biotechnology by 25.0% during the 1st quarter. Renaissance Technologies LLC now owns 220,800 shares of the company’s stock worth $134,000 after buying an additional 44,100 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of PDS Biotechnology in the 2nd quarter worth $60,000. Finally, BlackRock Inc. purchased a new position in shares of PDS Biotechnology in the 2nd quarter worth $535,000. 26.84% of the stock is currently owned by institutional investors and hedge funds.

PDS Biotechnology Stock Performance

Shares of NASDAQ:PDSB traded down $0.11 during midday trading on Thursday, hitting $1.30. The stock had a trading volume of 10,196,133 shares, compared to its average volume of 8,375,472. The company has a market capitalization of $72.76 million, a PE ratio of -2.03 and a beta of 1.17. The stock has a 50 day moving average price of $0.60 and a two-hundred day moving average price of $0.83. PDS Biotechnology has a 1 year low of $0.20 and a 1 year high of $1.79. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 2.73.

PDS Biotechnology (NASDAQ:PDSB) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.05). As a group, equities analysts predict that PDS Biotechnology will post -0.47 earnings per share for the current fiscal year.

PDS Biotechnology Company Profile

PDS Biotechnology Corporation (NASDAQ: PDSB) is a clinical-stage biopharmaceutical company focused on developing targeted immunotherapies for cancer and infectious diseases. The company’s technology is designed to stimulate the immune system and generate antigen-specific T-cell responses against diseased cells.

PDS Biotech’s lead investigational product is PDS0101, an immunotherapy designed to target human papillomavirus type 16 (HPV16) antigens E6 and E7. The product is being evaluated in combination with other treatments for HPV16-associated cancers, including cervical, anal, and certain head and neck cancers.