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

Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) was the target of a large growth in short interest in July. As of July 31st, there was short interest totaling 24,819 shares, a growth of 150.0% from the July 15th total of 9,927 shares. Approximately 1.2% of the company’s stock are short sold. Based on an average daily volume of 319,914 shares, the days-to-cover ratio is currently 0.1 days.

Biodexa Pharmaceuticals Price Performance

NASDAQ:BDRX opened at $1.56 on Friday. The business has a 50 day moving average price of $2.34 and a 200-day moving average price of $3.80. Biodexa Pharmaceuticals has a fifty-two week low of $1.02 and a fifty-two week high of $59.40.

Hedge Funds 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 shares of Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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. Institutional investors own 17.51% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.