ADARx Pharmaceuticals, Inc. (NASDAQ:ADRX) Stock Short Interest Report for October

ADARx Pharmaceuticals, Inc. (NASDAQ:ADRX) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 1,903,521 shares, an increase of 63.6% from the September 30th total of 1,163,375 shares. Approximately 1.8% of the company’s shares are sold short. Based on an average daily volume of 611,710 shares, the days-to-cover ratio is currently 3.1 days.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Morgan Stanley started coverage on shares of ADARx Pharmaceuticals in a research note on Tuesday, October 20th. They set an “overweight” rating and a $32.00 price target on the stock. TD Cowen began coverage on ADARx Pharmaceuticals in a research note on Tuesday, October 20th. They set a “buy” rating for the company. Zacks Research raised ADARx Pharmaceuticals to a “hold” rating in a research report on Wednesday, October 21st. Wall Street Zen raised shares of ADARx Pharmaceuticals to a “hold” rating in a report on Saturday, October 3rd. Finally, JPMorgan Chase & Co. began coverage on shares of ADARx Pharmaceuticals in a research report on Tuesday, October 20th. They issued an “overweight” rating and a $38.00 target price for the company. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.00.

ADARx Pharmaceuticals Stock Performance

Shares of ADRX stock traded down $0.22 during mid-day trading on Monday, reaching $16.78. The company’s stock had a trading volume of 25,845 shares, compared to its average volume of 542,244. ADARx Pharmaceuticals has a 1-year low of $16.30 and a 1-year high of $23.21.

Insider Buying and Selling

In other ADARx Pharmaceuticals news, Director Erez Chimovits bought 61,516 shares of the company’s stock in a transaction on Monday, September 28th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $1,045,772.00. Following the acquisition, the director directly owned 9,292,025 shares in the company, valued at approximately $157,964,425. The trade was a 0.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Simeon George bought 1,600,000 shares of ADARx Pharmaceuticals stock in a transaction that occurred on Monday, September 28th. The stock was purchased at an average price of $17.00 per share, with a total value of $27,200,000.00. Following the purchase, the director directly owned 5,554,094 shares in the company, valued at $94,419,598. The trade was a 40.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders acquired 3,261,516 shares of company stock valued at $55,445,772.

About ADARx Pharmaceuticals

ADARx Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that target disease-driving proteins through RNA-based technologies. The company’s platform is designed to support potent and durable control of protein production, with the goal of creating therapies that may be administered less frequently than conventional treatments.

ADARx is advancing a pipeline of investigational therapeutics for conditions involving the kallikrein-kinin and complement pathways, which are implicated in hereditary angioedema and other immune-mediated or inflammatory diseases.