PainReform Ltd. (NASDAQ:PRFX) Stock Short Interest Falls 59.7%

PainReform Ltd. (NASDAQ:PRFX) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 27,647 shares, a drop of 59.7% from the September 15th total of 68,535 shares. Based on an average trading volume of 639,272 shares, the short-interest ratio is currently 0.0 days. Approximately 4.9% of the company’s shares are short sold.

PainReform Price Performance

Shares of NASDAQ PRFX traded down $0.04 during mid-day trading on Tuesday, hitting $0.82. The company had a trading volume of 43,906 shares, compared to its average volume of 1,217,448. The company has a market capitalization of $711,660.00, a PE ratio of -0.00 and a beta of 1.08. The business’s 50-day simple moving average is $0.98 and its 200 day simple moving average is $1.47. PainReform has a 1-year low of $0.81 and a 1-year high of $7.95.

PainReform (NASDAQ:PRFX) last issued its quarterly earnings results on Thursday, September 3rd. The company reported ($1.13) earnings per share for the quarter. The business had revenue of $0.01 million during the quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PRFX shares. Wall Street Zen raised shares of PainReform to a “sell” rating in a research note on Saturday, August 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of PainReform in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating. According to MarketBeat, PainReform has a consensus rating of “Sell”.

About PainReform

PainReform Ltd. is a clinical-stage specialty pharmaceutical company focused on developing treatments for acute post-operative pain. The company’s goal is to provide longer-lasting pain relief at the surgical site while potentially reducing reliance on opioid medications after surgery.

PainReform’s lead product candidate, PRF-110, is an investigational extended-release formulation of the local anesthetic ropivacaine. The product is designed to be administered directly into a surgical site and provide pain relief for up to approximately 72 hours following a procedure.