Short Interest in NEXGEL, Inc. (NASDAQ:NXGL) Increases By 24.2%

NEXGEL, Inc. (NASDAQ:NXGL) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 24,100 shares, an increase of 24.2% from the March 15th total of 19,400 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average daily trading volume, of 24,000 shares, the days-to-cover ratio is currently 1.0 days.

Insider Transactions at NEXGEL

In other news, CFO Adam E. Drapczuk III bought 47,394 shares of NEXGEL stock in a transaction that occurred on Friday, March 1st. The shares were purchased at an average price of $2.11 per share, with a total value of $100,001.34. Following the completion of the acquisition, the chief financial officer now directly owns 47,394 shares in the company, valued at $100,001.34. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NEXGEL news, CFO Adam E. Drapczuk III acquired 47,394 shares of the stock in a transaction dated Friday, March 1st. The stock was acquired at an average cost of $2.11 per share, with a total value of $100,001.34. Following the transaction, the chief financial officer now owns 47,394 shares in the company, valued at approximately $100,001.34. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Scott Robert Henry bought 23,697 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were acquired at an average cost of $2.11 per share, for a total transaction of $50,000.67. Following the transaction, the director now directly owns 135,735 shares in the company, valued at approximately $286,400.85. The disclosure for this purchase can be found here. Corporate insiders own 27.15% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NXGL. Geode Capital Management LLC purchased a new position in shares of NEXGEL during the second quarter worth approximately $98,000. Vanguard Group Inc. acquired a new position in NEXGEL in the third quarter valued at $52,000. Renaissance Technologies LLC purchased a new stake in shares of NEXGEL in the second quarter valued at about $34,000. Finally, Citadel Advisors LLC acquired a new stake in shares of NEXGEL during the second quarter worth about $36,000. Institutional investors and hedge funds own 2.21% of the company’s stock.

NEXGEL Stock Performance

Shares of NEXGEL stock remained flat at $2.18 on Monday. The stock had a trading volume of 1,437 shares, compared to its average volume of 22,434. The firm has a market cap of $13.58 million, a PE ratio of -3.89 and a beta of 0.68. The company has a current ratio of 1.98, a quick ratio of 1.46 and a debt-to-equity ratio of 0.10. NEXGEL has a fifty-two week low of $1.32 and a fifty-two week high of $3.14. The business has a 50-day moving average price of $2.44 and a 200 day moving average price of $2.18.

About NEXGEL

NEXGEL, Inc manufactures high water content, electron beam cross-linked, and aqueous polymer hydrogels and gels. Its products are used for wound care, medical diagnostics, transdermal drug delivery, and cosmetics. The company was formerly known as AquaMed Technologies, Inc and changed its name to NEXGEL, Inc in November 2019.