Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) Short Interest Down 85.3% in July

Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) saw a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 9,927 shares, a decrease of 85.3% from the June 30th total of 67,330 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily volume of 18,424 shares, the days-to-cover ratio is presently 0.5 days.

Analysts Set New Price Targets

A number of research firms recently issued reports on BDRX. Wall Street Zen cut shares of Biodexa Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, March 30th. Weiss Ratings upgraded shares of Biodexa Pharmaceuticals from a “sell (e)” rating to a “sell (e+)” rating in a research report on Thursday, June 18th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Biodexa Pharmaceuticals Price Performance

NASDAQ:BDRX traded up $0.06 during trading hours on Monday, hitting $1.71. 21,401 shares of the stock were exchanged, compared to its average volume of 411,207. Biodexa Pharmaceuticals has a 52-week low of $1.56 and a 52-week high of $59.40. The firm’s fifty day moving average price is $2.84 and its 200 day moving average price is $4.77.

Institutional Trading of Biodexa Pharmaceuticals

A hedge fund recently bought a new position in Biodexa Pharmaceuticals stock. Sabby Management LLC bought a new position in shares of Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 190,658 shares of the company’s stock, valued at approximately $433,000. Biodexa Pharmaceuticals comprises approximately 0.6% of Sabby Management LLC’s investment portfolio, making the stock its 10th biggest position. Sabby Management LLC owned approximately 28.04% of Biodexa Pharmaceuticals at the end of the most recent quarter. Hedge funds and other institutional investors own 17.51% of the company’s stock.

About Biodexa Pharmaceuticals

Biodexa Pharmaceuticals Plc, a clinical stage biopharmaceutical company, focuses on developing a pipeline of products for the treatment of Type 1 diabetes and rare/orphan cancers of the brain. Its lead product candidate Tolimidone, a selective activator of the lyn kinase enzyme, currently under Phase II studies for the treatment of Type 1 diabetes. The company is also developing MTX110, which is currently in Phase I studies for the treatment of diffuse intrinsic recurrent glioblastoma, diffuse midline glioma, and medulloblastoma; and MTD217, a program centered around a water-soluble drug formulation that can be easily infused or injected simultaneously, or sequentially, directly into the cancer microenvironment, currently under preclinical studies for the treatment of leptomeningeal disease.