Short Interest in Gemphire Therapeutics Inc (NASDAQ:GEMP) Decreases By 37.4%

Gemphire Therapeutics Inc (NASDAQ:GEMP) was the target of a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 132,800 shares, a decrease of 37.4% from the September 15th total of 212,300 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average trading volume of 251,600 shares, the short-interest ratio is currently 0.5 days.

A hedge fund recently raised its stake in Gemphire Therapeutics stock. Vanguard Group Inc. increased its holdings in shares of Gemphire Therapeutics Inc (NASDAQ:GEMP) by 13.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 187,588 shares of the company’s stock after acquiring an additional 22,096 shares during the period. Vanguard Group Inc. owned about 1.32% of Gemphire Therapeutics worth $152,000 at the end of the most recent quarter. 21.03% of the stock is owned by hedge funds and other institutional investors.

Separately, ValuEngine upgraded Gemphire Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.

NASDAQ GEMP traded down $0.01 during trading hours on Monday, reaching $0.36. 53,300 shares of the company’s stock were exchanged, compared to its average volume of 128,732. Gemphire Therapeutics has a one year low of $0.28 and a one year high of $1.60. The firm has a fifty day moving average of $0.40 and a 200-day moving average of $0.76.

Gemphire Therapeutics (NASDAQ:GEMP) last released its quarterly earnings results on Friday, August 9th. The company reported ($0.20) EPS for the quarter.

About Gemphire Therapeutics

Gemphire Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing therapies for the treatment of dyslipidemia and nonalcoholic fatty liver disease (NAFLD/NASH). The company is developing gemcabene, a novel, once-daily, and oral therapy for dyslipidemia conditions where patients are unable to reach their lipid lowering goals, including patients already receiving maximally tolerated statin therapy.

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