Medicus Pharma Ltd (NASDAQ:MDCX) Shares Shorted: Short Interest Down 98.8% in October

Medicus Pharma Ltd (NASDAQ:MDCX) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 43,628 shares, a decline of 98.8% from the September 30th total of 3,686,994 shares. Currently, 3.8% of the company’s shares are sold short. Based on an average trading volume of 116,893 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of Medicus Pharma

An institutional investor recently raised its position in Medicus Pharma stock. Private Advisor Group LLC raised its stake in shares of Medicus Pharma Ltd (NASDAQ:MDCX) by 36.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 240,055 shares of the company’s stock after purchasing an additional 64,560 shares during the period. Private Advisor Group LLC owned 0.61% of Medicus Pharma worth $110,000 as of its most recent SEC filing.

Medicus Pharma Stock Up 0.4%

Shares of MDCX stock traded up $0.01 during trading hours on Monday, hitting $2.51. 38,515 shares of the company’s stock traded hands, compared to its average volume of 88,516. The stock’s fifty day simple moving average is $8.15 and its two-hundred day simple moving average is $24.92. Medicus Pharma has a 12-month low of $2.41 and a 12-month high of $137.00. The stock has a market cap of $3.16 million, a price-to-earnings ratio of -0.02 and a beta of 0.30.

Medicus Pharma (NASDAQ:MDCX) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($10.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($6.38) by ($4.12). On average, equities analysts forecast that Medicus Pharma will post -36.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

MDCX has been the subject of a number of analyst reports. Wall Street Zen lowered Medicus Pharma to a “strong sell” rating in a research note on Saturday, October 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Medicus Pharma in a report on Friday, October 2nd. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Medicus Pharma in a report on Monday, September 14th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $450.00.

About Medicus Pharma

Medicus Pharma Ltd. is a life sciences company focused on acquiring, developing and commercializing innovative therapeutic and medical device technologies. Its activities are centered primarily on wound care, dermatology and related areas of medical treatment.

The company’s portfolio includes Natrox® Oxygen Wound Therapy, a device designed to deliver continuous topical oxygen to the wound site. The technology is intended to support the treatment of chronic and hard-to-heal wounds and may be used in clinical and home-care settings, subject to applicable regulatory approvals.

Medicus Pharma serves healthcare markets through the commercialization of its technologies and partnerships with medical professionals and distribution networks.