PDS Biotechnology Corporation (NASDAQ:PDSB) Sees Large Decline in Short Interest

PDS Biotechnology Corporation (NASDAQ:PDSB) saw a significant drop in short interest in April. As of April 15th, there was short interest totaling 1,717,509 shares, a drop of 16.3% from the March 31st total of 2,050,834 shares. Based on an average daily trading volume, of 1,466,066 shares, the days-to-cover ratio is currently 1.2 days. Approximately 3.4% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of PDS Biotechnology in a research report on Wednesday, April 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PDS Biotechnology in a research note on Tuesday, April 21st. Finally, Wall Street Zen upgraded PDS Biotechnology from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, PDS Biotechnology presently has a consensus rating of “Hold” and an average price target of $9.00.

PDS Biotechnology Stock Performance

Shares of PDS Biotechnology stock opened at $1.01 on Friday. The stock has a market cap of $54.67 million, a price-to-earnings ratio of -1.34 and a beta of 1.20. PDS Biotechnology has a twelve month low of $0.51 and a twelve month high of $1.92. The company’s fifty day moving average is $0.81 and its 200 day moving average is $0.85. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 1.27.

PDS Biotechnology (NASDAQ:PDSB) last announced its earnings results on Monday, March 30th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.06. Sell-side analysts forecast that PDS Biotechnology will post -0.59 EPS for the current year.

Hedge Funds Weigh In On PDS Biotechnology

Several institutional investors have recently added to or reduced their stakes in the business. Armistice Capital LLC bought a new position in PDS Biotechnology during the fourth quarter worth $2,182,000. Geode Capital Management LLC grew its stake in PDS Biotechnology by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 520,398 shares of the company’s stock valued at $401,000 after acquiring an additional 38,399 shares during the period. Squarepoint Ops LLC grew its stake in PDS Biotechnology by 116.1% in the third quarter. Squarepoint Ops LLC now owns 291,627 shares of the company’s stock valued at $295,000 after acquiring an additional 156,662 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of PDS Biotechnology by 117.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 196,797 shares of the company’s stock worth $151,000 after purchasing an additional 106,300 shares in the last quarter. Finally, Susquehanna International Group LLP grew its position in PDS Biotechnology by 603.7% in the 3rd quarter. Susquehanna International Group LLP now owns 94,344 shares of the company’s stock valued at $95,000 after purchasing an additional 80,937 shares during the period. 26.84% of the stock is owned by institutional investors and hedge funds.

PDS Biotechnology Company Profile

PDS Biotechnology Group, Inc is a clinical?stage immunotherapy company focused on the development of targeted treatments for oncology and infectious diseases. The company’s proprietary Amplivant™ adjuvant platform leverages Toll-like receptor 3 activation to prime antigen?presenting cells, directing robust immune responses against defined tumor and viral antigens. Its lead therapeutic vaccine candidate, PDS?0101, is designed to treat HPV16?positive cancers and is being evaluated both as a monotherapy and in combination with checkpoint inhibitors in ongoing Phase 1/2 clinical trials.

Beyond its HPV?focused program, PDS Biotechnology is advancing a diversified pipeline of immunotherapies incorporating its Amplivant platform.