PainReform Ltd. (NASDAQ:PRFX) Sees Large Decline in Short Interest

PainReform Ltd. (NASDAQ:PRFX) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 78,900 shares, a drop of 42.4% from the August 31st total of 136,900 shares. Based on an average trading volume of 2,890,000 shares, the days-to-cover ratio is presently 0.0 days. Currently, 4.4% of the company’s shares are short sold. Currently, 4.4% of the company’s shares are short sold. Based on an average trading volume of 2,890,000 shares, the days-to-cover ratio is presently 0.0 days.

Analysts Set New Price Targets

PRFX has been the topic of several recent analyst reports. Wall Street Zen upgraded PainReform from a “strong sell” rating to a “hold” rating in a research note on Friday. Weiss Ratings restated a “sell (e+)” rating on shares of PainReform in a research note on Saturday, September 27th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce”.

PainReform Trading Up 1.5%

PRFX opened at $1.38 on Friday. PainReform has a 1 year low of $1.25 and a 1 year high of $16.63. The stock has a fifty day moving average price of $1.46 and a 200 day moving average price of $1.75. The stock has a market cap of $2.77 million, a price-to-earnings ratio of -0.01 and a beta of 0.58.

About PainReform

PainReform Ltd., a clinical stage specialty pharmaceutical company, focuses on the reformulation of established therapeutics and provides an extended period of post-surgical pain relief in Israel. It develops PRF-110, a viscous clear oil-based solution that is instilled directly into the surgical wound to provide localized and extended post-operative analgesia, as well as in Phase 3 clinical trial for pain treatment of patients undergoing bunionectomy and second trial for pain treatment of hernia repair operations.