Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) Short Interest Update

Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) was the target of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 2,500,950 shares, a growth of 26.3% from the February 26th total of 1,979,996 shares. Approximately 7.0% of the shares of the company are sold short. Based on an average trading volume of 212,578 shares, the days-to-cover ratio is presently 11.8 days.

Analyst Upgrades and Downgrades

EPRX has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a research report on Thursday, January 22nd. William Blair began coverage on Eupraxia Pharmaceuticals in a research note on Monday, March 23rd. They issued an “outperform” rating on the stock. Wall Street Zen lowered Eupraxia Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. HC Wainwright cut their price target on Eupraxia Pharmaceuticals from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, March 17th. Finally, Zacks Research lowered shares of Eupraxia Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 17th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Eupraxia Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Eupraxia Pharmaceuticals Stock Performance

NASDAQ EPRX traded up $0.63 during trading hours on Tuesday, reaching $7.24. The company’s stock had a trading volume of 140,791 shares, compared to its average volume of 227,572. The stock has a market cap of $260.35 million, a PE ratio of -7.03 and a beta of 1.27. Eupraxia Pharmaceuticals has a fifty-two week low of $2.68 and a fifty-two week high of $9.32. The company’s 50-day moving average is $8.06 and its two-hundred day moving average is $6.98.

Eupraxia Pharmaceuticals (NASDAQ:EPRX) last issued its quarterly earnings results on Thursday, March 19th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.21). Equities analysts expect that Eupraxia Pharmaceuticals will post -0.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eupraxia Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vivo Capital LLC acquired a new position in shares of Eupraxia Pharmaceuticals during the third quarter valued at $7,965,000. Ally Bridge Group NY LLC bought a new stake in Eupraxia Pharmaceuticals in the 3rd quarter valued at about $5,398,000. Ikarian Capital LLC bought a new stake in Eupraxia Pharmaceuticals in the 4th quarter valued at about $4,606,000. Squadron Capital Management LLC acquired a new position in Eupraxia Pharmaceuticals during the 4th quarter valued at about $3,775,000. Finally, Velan Capital Investment Management LP acquired a new position in Eupraxia Pharmaceuticals during the 3rd quarter valued at about $2,077,000.

Eupraxia Pharmaceuticals Company Profile

Eupraxia Pharmaceuticals, Inc (NASDAQ: EPRX) is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for autoimmune and inflammatory diseases. The company’s core strategy centers on selectively expanding regulatory T cells (Tregs)—immune cells responsible for maintaining self-tolerance and limiting pathological inflammation—through its proprietary platform. Its lead therapeutic candidate is currently in Phase 1 clinical development in patients with systemic lupus erythematosus.

Based in Seattle, Washington, Eupraxia Pharmaceuticals conducts research and development activities across North America, collaborating with academic institutions and contract research organizations to advance its pipeline.