Short Interest in Medicus Pharma Ltd (NASDAQ:MDCX) Expands By 57.1%

Medicus Pharma Ltd (NASDAQ:MDCX) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totaling 775,343 shares, a growth of 57.1% from the November 30th total of 493,429 shares. Currently, 4.0% of the company’s stock are short sold. Based on an average daily volume of 422,422 shares, the days-to-cover ratio is currently 1.8 days. Based on an average daily volume of 422,422 shares, the days-to-cover ratio is currently 1.8 days. Currently, 4.0% of the company’s stock are short sold.

Medicus Pharma Stock Up 3.4%

NASDAQ MDCX opened at $1.51 on Wednesday. Medicus Pharma has a 52 week low of $1.45 and a 52 week high of $8.94. The firm has a 50 day moving average of $2.06 and a two-hundred day moving average of $2.35. The stock has a market capitalization of $33.27 million and a PE ratio of -0.70.

Medicus Pharma (NASDAQ:MDCX) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.27). On average, equities research analysts expect that Medicus Pharma will post -1.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MDCX shares. Weiss Ratings restated a “sell (d-)” rating on shares of Medicus Pharma in a report on Monday. D. Boral Capital reissued a “buy” rating and issued a $27.00 price target on shares of Medicus Pharma in a research report on Monday, December 15th. Finally, Zacks Research upgraded shares of Medicus Pharma to a “hold” rating in a research note on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $23.50.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Armistice Capital LLC acquired a new stake in Medicus Pharma during the first quarter worth approximately $4,710,000. Yorkville Advisors Global LP purchased a new position in shares of Medicus Pharma in the 3rd quarter valued at $532,000. Private Advisor Group LLC raised its stake in Medicus Pharma by 3.8% during the 3rd quarter. Private Advisor Group LLC now owns 151,500 shares of the company’s stock worth $351,000 after acquiring an additional 5,500 shares in the last quarter. Guyasuta Investment Advisors Inc. acquired a new stake in Medicus Pharma during the 2nd quarter worth $230,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in Medicus Pharma in the second quarter valued at $139,000.

Medicus Pharma Company Profile

Medicus Pharma, Inc, traded on the Nasdaq under the ticker MDCX, is a specialty pharmaceutical company focused on the development, acquisition and commercialization of prescription therapies. The company’s core business centers on oncology supportive care and critical care products, with its lead offering being Levoleucovorin injection, an FDA-approved agent designed to reduce toxicity and enhance efficacy of certain chemotherapeutic regimens in colorectal cancer.

Headquartered in the United States, Medicus Pharma has built its portfolio through strategic licensing and acquisition of sterile injectable and oral therapies.