Short Interest in Femasys Inc. (NASDAQ:FEMY) Drops By 94.0%

Femasys Inc. (NASDAQ:FEMY) was the recipient of a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 198,600 shares, a decline of 94.0% from the May 31st total of 3,326,404 shares. Based on an average daily volume of 78,232 shares, the short-interest ratio is presently 2.5 days. Approximately 7.1% of the shares of the stock are short sold.

Institutional Investors Weigh In On Femasys

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC acquired a new position in shares of Femasys during the fourth quarter worth $62,000. Banco BTG Pactual S.A. purchased a new position in Femasys during the 4th quarter worth $88,000. Geode Capital Management LLC grew its stake in shares of Femasys by 50.8% during the fourth quarter. Geode Capital Management LLC now owns 389,280 shares of the company’s stock worth $224,000 after acquiring an additional 131,052 shares during the last quarter. Cetera Investment Advisers purchased a new position in shares of Femasys in the 4th quarter valued at approximately $36,000. Finally, State Street Corp boosted its stake in Femasys by 43.5% in the 4th quarter. State Street Corp now owns 80,869 shares of the company’s stock worth $47,000 after purchasing an additional 24,500 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FEMY. Wall Street Zen upgraded shares of Femasys to a “hold” rating in a report on Saturday, June 13th. Lake Street Capital initiated coverage on shares of Femasys in a research note on Tuesday, March 3rd. They issued a “buy” rating and a $30.00 price target for the company. Finally, Weiss Ratings upgraded Femasys from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 3rd. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $106.67.

Femasys Stock Performance

NASDAQ FEMY traded up $0.23 on Friday, reaching $3.83. 31,596 shares of the stock were exchanged, compared to its average volume of 49,353. The company has a current ratio of 3.91, a quick ratio of 1.98 and a debt-to-equity ratio of 0.53. Femasys has a one year low of $3.50 and a one year high of $22.20. The firm has a market capitalization of $11.58 million, a PE ratio of -0.71 and a beta of -2.23. The company’s 50-day simple moving average is $6.83 and its two-hundred day simple moving average is $9.97.

Femasys (NASDAQ:FEMY) last released its quarterly earnings data on Friday, May 8th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.33) by $1.43. The firm had revenue of $0.42 million for the quarter, compared to analysts’ expectations of $0.77 million. Femasys had a negative net margin of 521.97% and a negative return on equity of 258.08%.

Femasys Company Profile

Femasys International, Inc is a medical device company focused on the research, development and commercialization of innovative technologies for interventional women’s health applications. The company’s core activities center on creating minimally invasive diagnostic and therapeutic products designed to address uterine cavity evaluation and treatment and to improve outcomes in gynecological care.

The company’s flagship product, the FemVue® hydrosonography system, is a single-use catheter-based device that enhances visualization of the uterine cavity through saline infusion sonography.