Velocity Fund Partners, Lp Sells 75,000 Shares of Medicus Pharma Ltd. (NASDAQ:MDCX) Stock

Medicus Pharma Ltd. (NASDAQ:MDCX) major shareholder Velocity Fund Partners, Lp sold 75,000 shares of the business’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $7.72, for a total transaction of $579,000.00. Following the completion of the transaction, the insider now owns 3,248,741 shares in the company, valued at approximately $25,080,280.52. This trade represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Medicus Pharma Stock Down 8.2%

MDCX opened at $7.08 on Friday. Medicus Pharma Ltd. has a 1-year low of $1.80 and a 1-year high of $8.94. The company has a 50-day moving average of $4.28.

Medicus Pharma (NASDAQ:MDCX) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.19). As a group, equities research analysts forecast that Medicus Pharma Ltd. will post -1.14 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Private Advisor Group LLC bought a new stake in shares of Medicus Pharma during the first quarter worth $211,000. Interchange Capital Partners LLC increased its position in Medicus Pharma by 14.0% in the first quarter. Interchange Capital Partners LLC now owns 1,661,871 shares of the company’s stock worth $6,182,000 after purchasing an additional 204,706 shares during the period. Finally, Armistice Capital LLC bought a new stake in Medicus Pharma during the 1st quarter worth about $4,710,000.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Medicus Pharma from a “hold” rating to a “sell” rating in a research note on Thursday. D. Boral Capital reaffirmed a “buy” rating and set a $27.00 price target on shares of Medicus Pharma in a report on Thursday. Maxim Group boosted their price objective on Medicus Pharma from $10.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Finally, D Boral Capital upgraded Medicus Pharma to a “strong-buy” rating in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Medicus Pharma presently has an average rating of “Buy” and an average price target of $23.50.

Medicus Pharma Company Profile

Medicus Pharma Ltd is a biotech/life sciences company focused on accelerating the clinical development programs of novel and disruptive therapeutics assets. Medicus Pharma Ltd is based in Toronto, Ontario.