Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) Sees Large Decline in Short Interest

Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) was the recipient of a large decrease in short interest in the month of April. As of April 30th, there was short interest totaling 17,090 shares, a decrease of 58.2% from the April 15th total of 40,924 shares. Based on an average trading volume of 38,481 shares, the short-interest ratio is currently 0.4 days. Currently, 0.9% of the shares of the company are sold short.

Institutional Trading of Biodexa Pharmaceuticals

A hedge fund recently bought a new stake in Biodexa Pharmaceuticals stock. Armistice Capital LLC bought a new position in Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 100,000 shares of the company’s stock, valued at approximately $227,000. Armistice Capital LLC owned about 14.71% of Biodexa Pharmaceuticals as of its most recent SEC filing. Institutional investors own 17.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BDRX. Wall Street Zen downgraded Biodexa Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, March 30th. Weiss Ratings upgraded Biodexa Pharmaceuticals from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Biodexa Pharmaceuticals Stock Down 2.1%

Biodexa Pharmaceuticals stock traded down $0.07 during trading hours on Friday, hitting $3.33. 17,756 shares of the stock traded hands, compared to its average volume of 527,740. The firm’s 50 day moving average price is $3.77 and its 200-day moving average price is $12.20. Biodexa Pharmaceuticals has a 1 year low of $2.86 and a 1 year high of $96.50.

Biodexa Pharmaceuticals (NASDAQ:BDRX) last posted its quarterly earnings results on Friday, March 27th. The company reported $3.52 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $3.53.

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.