Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) Short Interest Down 62.9% in March

Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 20,700 shares, a decrease of 62.9% from the March 15th total of 55,800 shares. Based on an average daily trading volume, of 2,080,000 shares, the days-to-cover ratio is currently 0.0 days. Approximately 1.1% of the company’s shares are sold short.

Institutional Investors Weigh In On Lipella Pharmaceuticals

An institutional investor recently bought a new position in Lipella Pharmaceuticals stock. Virtu Financial LLC bought a new position in Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,310 shares of the company’s stock, valued at approximately $41,000. Virtu Financial LLC owned approximately 1.10% of Lipella Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 74.31% of the company’s stock.

Lipella Pharmaceuticals Trading Down 0.8 %

Shares of LIPO stock traded down $0.02 on Wednesday, reaching $2.41. 2,836 shares of the company’s stock were exchanged, compared to its average volume of 702,063. The stock has a market capitalization of $6.14 million, a PE ratio of -0.57 and a beta of 0.29. Lipella Pharmaceuticals has a 52 week low of $1.97 and a 52 week high of $12.00. The company’s fifty day simple moving average is $2.76 and its 200 day simple moving average is $2.93.

Lipella Pharmaceuticals (NASDAQ:LIPO) last posted its quarterly earnings results on Thursday, March 27th. The company reported ($1.19) earnings per share for the quarter, beating the consensus estimate of ($2.43) by $1.24. The firm had revenue of $0.17 million during the quarter. Lipella Pharmaceuticals had a negative net margin of 882.82% and a negative return on equity of 192.33%.

Lipella Pharmaceuticals Company Profile

Lipella Pharmaceuticals Inc, a biotechnology company, focuses on developing drugs by reformulating the active agents in existing generic drugs and optimizing these reformulations for various applications. The company develops LP-10, a formulation of tacrolimus that has completed Phase 2a clinical trial for patients with radiation-induced hemorrhagic cystitis; LP-310, a formulation of tacrolimus for the treatment of oral lichen planus; and LP-410, an oral liposomal formulation of tacrolimus for the treatment of oral graft-versus-host disease (GVHD).