Short Interest in Medicus Pharma Ltd (NASDAQ:MDCX) Decreases By 35.4%

Medicus Pharma Ltd (NASDAQ:MDCX) saw a large drop in short interest during the month of June. As of June 15th, there was short interest totaling 1,928,591 shares, a drop of 35.4% from the May 31st total of 2,984,551 shares. Based on an average daily trading volume, of 1,878,019 shares, the days-to-cover ratio is currently 1.0 days. Currently, 3.7% of the shares of the company are sold short.

Medicus Pharma Trading Down 10.4%

MDCX stock opened at $0.40 on Thursday. The firm’s 50-day moving average is $0.35 and its two-hundred day moving average is $0.80. The company has a market capitalization of $22.66 million, a price-to-earnings ratio of -0.15 and a beta of -0.06. Medicus Pharma has a 52 week low of $0.25 and a 52 week high of $3.69.

Medicus Pharma (NASDAQ:MDCX) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.13). On average, equities research analysts predict that Medicus Pharma will post -0.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MDCX has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Medicus Pharma in a research report on Friday, April 10th. Roth Mkm started coverage on shares of Medicus Pharma in a report on Tuesday, April 21st. They issued a “buy” rating on the stock. Finally, D. Boral Capital restated a “buy” rating and issued a $9.00 target price on shares of Medicus Pharma in a research note on Monday, April 20th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.00.

Hedge Funds Weigh In On Medicus Pharma

Several hedge funds have recently modified their holdings of the company. Jane Street Group LLC bought a new stake in shares of Medicus Pharma in the 2nd quarter worth $41,000. Osaic Holdings Inc. boosted its stake in Medicus Pharma by 180.0% during the second quarter. Osaic Holdings Inc. now owns 14,000 shares of the company’s stock valued at $42,000 after buying an additional 9,000 shares in the last quarter. Private Advisor Group LLC grew its holdings in Medicus Pharma by 3.8% during the third quarter. Private Advisor Group LLC now owns 151,500 shares of the company’s stock worth $351,000 after acquiring an additional 5,500 shares during the period. Yorkville Advisors Global LP acquired a new position in Medicus Pharma during the third quarter worth about $532,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Medicus Pharma in the third quarter worth about $59,000.

Medicus Pharma Company Profile

Medicus Pharma, Inc, traded on the Nasdaq under the ticker MDCX, is a specialty pharmaceutical company focused on the development, acquisition and commercialization of prescription therapies. The company’s core business centers on oncology supportive care and critical care products, with its lead offering being Levoleucovorin injection, an FDA-approved agent designed to reduce toxicity and enhance efficacy of certain chemotherapeutic regimens in colorectal cancer.

Headquartered in the United States, Medicus Pharma has built its portfolio through strategic licensing and acquisition of sterile injectable and oral therapies.