Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) Stock Short Interest Declines 93.2%

Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 18,380 shares, a drop of 93.2% from the September 15th total of 271,866 shares. Based on an average daily volume of 722,370 shares, the days-to-cover ratio is currently 0.0 days. Currently, 1.8% of the shares of the stock are sold short.

Biodexa Pharmaceuticals Price Performance

Shares of NASDAQ BDRX traded down $0.06 during trading on Friday, hitting $0.46. The company had a trading volume of 156,849 shares, compared to its average volume of 1,507,578. Biodexa Pharmaceuticals has a 52 week low of $0.45 and a 52 week high of $52.05. The business’s 50-day moving average is $1.01 and its 200 day moving average is $2.36.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Biodexa Pharmaceuticals from a “sell (e+)” rating to a “sell (e)” rating in a report on Monday, September 28th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Biodexa Pharmaceuticals currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Biodexa Pharmaceuticals

A hedge fund recently bought a new stake in Biodexa Pharmaceuticals stock. Sabby Management LLC bought a new stake in shares of Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 190,658 shares of the company’s stock, valued at approximately $433,000. Biodexa Pharmaceuticals comprises 0.6% of Sabby Management LLC’s investment portfolio, making the stock its 10th largest holding. Sabby Management LLC owned about 28.04% of Biodexa Pharmaceuticals as of its most recent SEC filing. 17.51% of the stock is currently owned by hedge funds and other institutional investors.

Biodexa Pharmaceuticals Company Profile

Biodexa Pharmaceuticals plc, formerly known as Midatech Pharma plc, is a biopharmaceutical company focused on developing medicines for diseases with significant unmet medical needs. The company’s work has centered on oncology, rare diseases and conditions that are difficult to treat with conventional drug-delivery methods.

Biodexa’s development programs have included MTX110, a proprietary aqueous formulation of panobinostat being investigated for direct administration into brain tumors, including diffuse intrinsic pontine glioma.