Short Interest in Aevi Genomic Medicine Inc (NASDAQ:GNMX) Increases By 77.8%

Aevi Genomic Medicine Inc (NASDAQ:GNMX) saw a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 1,010,000 shares, an increase of 77.8% from the September 15th total of 567,900 shares. Based on an average trading volume of 1,420,000 shares, the days-to-cover ratio is currently 0.7 days. Approximately 2.4% of the shares of the company are short sold.

Separately, ValuEngine lowered Aevi Genomic Medicine from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st.

An institutional investor recently raised its position in Aevi Genomic Medicine stock. Vanguard Group Inc. increased its position in Aevi Genomic Medicine Inc (NASDAQ:GNMX) by 82.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,252,050 shares of the biotechnology company’s stock after acquiring an additional 566,497 shares during the quarter. Vanguard Group Inc. owned about 1.93% of Aevi Genomic Medicine worth $201,000 as of its most recent SEC filing. 7.26% of the stock is currently owned by institutional investors and hedge funds.

GNMX traded down $0.01 during trading hours on Monday, hitting $0.13. The stock had a trading volume of 199,100 shares, compared to its average volume of 1,761,381. The company’s fifty day simple moving average is $0.15 and its 200 day simple moving average is $0.18. Aevi Genomic Medicine has a 1 year low of $0.11 and a 1 year high of $1.31. The stock has a market cap of $8.58 million, a PE ratio of -0.26 and a beta of 0.65.

Aevi Genomic Medicine (NASDAQ:GNMX) last announced its quarterly earnings data on Tuesday, August 13th. The biotechnology company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. Analysts predict that Aevi Genomic Medicine will post -0.27 earnings per share for the current fiscal year.

Aevi Genomic Medicine Company Profile

Aevi Genomic Medicine, Inc, a clinical stage biopharmaceutical company, researches and develops novel therapies for pediatric onset and life-altering diseases in the United States. The company's lead product candidates include AEVI-001, a glutamatergic neuromodulator, which has completed Phase II/III SAGA trial for the treatment of a genetically-defined subset of adolescent attention deficit hyperactivity disorder patients who have genetic mutations that disrupt the mGluR network resulting in glutamate imbalance; and AEVI-002, an anti-LIGHT monoclonal antibody that is in Phase Ib clinical trial for use in severe pediatric onset Crohn's disease.

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