Universe Pharmaceuticals INC (NASDAQ:UPC – Get Free Report) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 239,483 shares, an increase of 1,955.8% from the June 15th total of 11,649 shares. Approximately 99.8% of the shares of the company are short sold. Based on an average daily trading volume, of 7,749,497 shares, the days-to-cover ratio is currently 0.0 days.
Universe Pharmaceuticals Stock Performance
UPC stock traded down $0.07 during mid-day trading on Friday, reaching $5.27. 308,161 shares of the company’s stock were exchanged, compared to its average volume of 4,370,532. Universe Pharmaceuticals has a 12-month low of $2.00 and a 12-month high of $17.96. The stock’s 50 day moving average is $3.69 and its 200 day moving average is $3.49.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings upgraded shares of Universe Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Universe Pharmaceuticals presently has an average rating of “Sell”.
About Universe Pharmaceuticals
Universe Pharmaceuticals, Inc is a clinical‐stage biotechnology company focused on the discovery and development of novel therapeutics for ocular diseases. The company’s primary research efforts center on small-molecule compounds designed to address unmet needs in glaucoma, ocular hypertension and post-surgical ocular inflammation. By leveraging targeted enzyme inhibition and proprietary formulation technologies, Universe aims to bring forward topically administered medications that combine efficacy with an improved safety profile versus existing treatments.
The company’s lead candidate, UPC-1001, has been advanced into clinical trials for the treatment of open-angle glaucoma and ocular hypertension, where it seeks to lower intraocular pressure through a unique mechanism of action.
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