Short Interest in Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) Declines By 80.6%

Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) was the target of a significant drop in short interest in August. As of August 14th, there was short interest totaling 4,812 shares, a drop of 80.6% from the July 30th total of 24,819 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 118,901 shares, the days-to-cover ratio is presently 0.0 days.

Analysts Set New Price Targets

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

Biodexa Pharmaceuticals Trading Down 7.9%

Shares of BDRX traded down $0.08 during trading hours on Thursday, hitting $0.90. 275,095 shares of the stock were exchanged, compared to its average volume of 481,105. The business has a 50-day moving average of $2.01 and a 200-day moving average of $3.32. Biodexa Pharmaceuticals has a fifty-two week low of $0.86 and a fifty-two week high of $59.40.

Hedge Funds Weigh In On Biodexa Pharmaceuticals

An institutional investor recently bought a new position in Biodexa Pharmaceuticals stock. Armistice Capital LLC purchased a new position in Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 100,000 shares of the company’s stock, valued at approximately $227,000. Armistice Capital LLC owned approximately 14.71% of Biodexa Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC). 17.51% of the stock is currently owned by hedge funds and other institutional investors.

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.