Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) Sees Large Decrease in Short Interest

Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) was the recipient of a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 4,812 shares, a decline of 80.6% from the July 30th total of 24,819 shares. Based on an average trading volume of 118,901 shares, the short-interest ratio is presently 0.0 days. Currently, 0.5% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Biodexa Pharmaceuticals from a “sell (e)” rating to a “sell (e+)” rating in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Biodexa Pharmaceuticals Price Performance

Shares of NASDAQ:BDRX traded down $0.04 during midday trading on Friday, reaching $0.85. 80,603 shares of the company’s stock were exchanged, compared to its average volume of 478,682. The company’s 50 day simple moving average is $1.96 and its two-hundred day simple moving average is $3.28. Biodexa Pharmaceuticals has a 12 month low of $0.83 and a 12 month high of $59.40.

Institutional Investors Weigh In On Biodexa Pharmaceuticals

A hedge fund recently bought a new position in Biodexa Pharmaceuticals stock. Armistice Capital LLC acquired a new stake in Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $227,000. Armistice Capital LLC owned 14.71% of Biodexa Pharmaceuticals at the end of the most recent quarter. 17.51% of the stock is owned by institutional investors and hedge funds.

About Biodexa Pharmaceuticals

Biodexa Pharmaceuticals Plc, a clinical stage biopharmaceutical company, focuses on developing a pipeline of products for the treatment of Type 1 diabetes and rare/orphan cancers of the brain. Its lead product candidate Tolimidone, a selective activator of the lyn kinase enzyme, currently under Phase II studies for the treatment of Type 1 diabetes. The company is also developing MTX110, which is currently in Phase I studies for the treatment of diffuse intrinsic recurrent glioblastoma, diffuse midline glioma, and medulloblastoma; and MTD217, a program centered around a water-soluble drug formulation that can be easily infused or injected simultaneously, or sequentially, directly into the cancer microenvironment, currently under preclinical studies for the treatment of leptomeningeal disease.