WuXi AppTec Co., Ltd. (OTCMKTS:WUXAY) Stock Short Interest Drops 97.5%

WuXi AppTec Co., Ltd. (OTCMKTS:WUXAY) was the recipient of a large decrease in short interest during the month of October. As of October 30th, there was short interest totaling 4,304 shares, a decrease of 97.5% from the October 15th total of 175,103 shares. Based on an average trading volume of 12,722 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.0% of the company’s stock are sold short.

WuXi AppTec Stock Performance

Shares of OTCMKTS WUXAY traded down $0.47 during midday trading on Wednesday, reaching $25.13. 1,915 shares of the company were exchanged, compared to its average volume of 5,504. The stock’s 50-day moving average price is $25.44 and its 200-day moving average price is $19.58. WuXi AppTec has a one year low of $12.45 and a one year high of $28.69.

Analysts Set New Price Targets

Separately, Zacks Research raised WuXi AppTec from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 3rd. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Strong Buy”.

About WuXi AppTec

WuXi AppTec is a contract research, development and manufacturing services provider for the pharmaceutical and biotechnology industries. Founded in 2000 and headquartered in Shanghai, the company supports clients in developing medicines and bringing them through stages of research, testing and production. Its services include drug discovery and development, laboratory testing, clinical research support and manufacturing. WuXi AppTec works across small-molecule and other therapeutic development, providing services intended to help clients advance programs from early research toward commercialization.