Short Interest in Universe Pharmaceuticals INC (NASDAQ:UPC) Drops By 93.6%

Universe Pharmaceuticals INC (NASDAQ:UPC) was the recipient of a significant drop in short interest in July. As of July 15th, there was short interest totaling 15,446 shares, a drop of 93.6% from the June 30th total of 239,483 shares. Based on an average daily trading volume, of 748,993 shares, the days-to-cover ratio is presently 0.0 days. Approximately 6.4% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Universe Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Universe Pharmaceuticals Price Performance

UPC stock traded down $0.40 during trading on Friday, reaching $3.39. 43,299 shares of the stock were exchanged, compared to its average volume of 4,162,160. The business has a 50 day moving average price of $3.98 and a 200-day moving average price of $3.50. Universe Pharmaceuticals has a 1 year low of $2.00 and a 1 year high of $17.96.

About Universe Pharmaceuticals

Universe Pharmaceuticals, Inc is a clinical?stage biotechnology company focused on the discovery and development of novel therapeutics for ocular diseases. The company’s primary research efforts center on small-molecule compounds designed to address unmet needs in glaucoma, ocular hypertension and post-surgical ocular inflammation. By leveraging targeted enzyme inhibition and proprietary formulation technologies, Universe aims to bring forward topically administered medications that combine efficacy with an improved safety profile versus existing treatments.

The company’s lead candidate, UPC-1001, has been advanced into clinical trials for the treatment of open-angle glaucoma and ocular hypertension, where it seeks to lower intraocular pressure through a unique mechanism of action.