Qualigen Therapeutics, Inc. (NASDAQ:QLGN) Sees Significant Increase in Short Interest

Qualigen Therapeutics, Inc. (NASDAQ:QLGN) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 119,500 shares, an increase of 70.5% from the March 15th total of 70,100 shares. Approximately 17.4% of the shares of the company are short sold. Based on an average daily volume of 76,000 shares, the days-to-cover ratio is currently 1.6 days.

Qualigen Therapeutics Stock Performance

Shares of NASDAQ QLGN traded down $0.08 during trading on Friday, reaching $3.21. 1,244 shares of the company traded hands, compared to its average volume of 109,385. The firm’s fifty day simple moving average is $3.27 and its 200 day simple moving average is $4.39. Qualigen Therapeutics has a 12-month low of $2.85 and a 12-month high of $29.44.

Institutional Investors Weigh In On Qualigen Therapeutics

An institutional investor recently bought a new position in Qualigen Therapeutics stock. FNY Investment Advisers LLC purchased a new position in Qualigen Therapeutics, Inc. (NASDAQ:QLGN) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,548 shares of the company’s stock, valued at approximately $27,000. FNY Investment Advisers LLC owned 1.03% of Qualigen Therapeutics at the end of the most recent quarter. 3.18% of the stock is currently owned by institutional investors.

Qualigen Therapeutics Company Profile

Qualigen Therapeutics, Inc, a biotechnology company, focuses on the development and commercialization of novel therapeutic products for the treatment of cancer and infectious diseases. It offers FastPack, a patent-protected rapid, onsite immunoassay testing system. The company is developing QN-302 for the treatment of pancreatic ductal adenocarcinoma; QN-247, an oligonucleotide-based drug candidate to treat various nucleolin-expressing cancers, including liquid and solid tumors; QN-165, a drug candidate for the potential broad-spectrum treatment of infectious diseases, such as COVID-19; RAS-F, a small-molecule RAS oncogene protein-protein inhibitor that blocks RAS mutations and inhibits tumor formation; and selective target antigen removal system, a therapeutic device to remove circulating tumor cells, viruses, inflammation factors, and immune checkpoints.