Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) Short Interest Update

Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) was the recipient of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 58,200 shares, a drop of 73.1% from the February 13th total of 216,200 shares. Currently, 6.5% of the company’s shares are short sold. Based on an average trading volume of 2,120,000 shares, the short-interest ratio is presently 0.0 days.

Hedge Funds Weigh In On Lipella Pharmaceuticals

An institutional investor recently bought a new position in Lipella Pharmaceuticals stock. Virtu Financial LLC purchased a new position in shares of Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 13,310 shares of the company’s stock, valued at approximately $41,000. Virtu Financial LLC owned about 1.10% of Lipella Pharmaceuticals at the end of the most recent quarter. Institutional investors and hedge funds own 74.31% of the company’s stock.

Lipella Pharmaceuticals Stock Performance

Lipella Pharmaceuticals stock traded down $0.02 during mid-day trading on Thursday, hitting $2.23. The company’s stock had a trading volume of 18,751 shares, compared to its average volume of 2,803,784. The company has a 50 day moving average of $3.05 and a 200-day moving average of $3.12. The stock has a market cap of $2.69 million, a PE ratio of -0.52 and a beta of 0.13. Lipella Pharmaceuticals has a one year low of $2.02 and a one year high of $12.00.

About Lipella Pharmaceuticals

Lipella Pharmaceuticals Inc, a biotechnology company, focuses on developing drugs by reformulating the active agents in existing generic drugs and optimizing these reformulations for various applications. The company develops LP-10, a formulation of tacrolimus that has completed Phase 2a clinical trial for patients with radiation-induced hemorrhagic cystitis; LP-310, a formulation of tacrolimus for the treatment of oral lichen planus; and LP-410, an oral liposomal formulation of tacrolimus for the treatment of oral graft-versus-host disease (GVHD).