PDS Biotechnology Corporation (NASDAQ:PDSB) Sees Significant Decline in Short Interest

PDS Biotechnology Corporation (NASDAQ:PDSB) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 2,770,411 shares, a decrease of 56.8% from the September 15th total of 6,406,521 shares. Approximately 5.4% of the company’s shares are sold short. Based on an average daily volume of 29,130,359 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analyst Weigh In

Several research analysts have commented on PDSB shares. HC Wainwright reaffirmed a “buy” rating on shares of PDS Biotechnology in a report on Wednesday, August 26th. Weiss Ratings raised PDS Biotechnology from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 28th. Finally, Wall Street Zen upgraded PDS Biotechnology from a “sell” rating to a “hold” rating in a research report on Monday, October 5th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $9.00.

PDS Biotechnology Trading Up 5.3%

PDSB traded up $0.08 during trading on Tuesday, reaching $1.60. 16,870,551 shares of the stock traded hands, compared to its average volume of 8,360,210. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 2.73. The stock’s 50-day moving average is $0.56 and its 200 day moving average is $0.81. PDS Biotechnology has a 12 month low of $0.20 and a 12 month high of $1.79. The stock has a market capitalization of $89.55 million, a PE ratio of -2.50 and a beta of 1.17.

PDS Biotechnology (NASDAQ:PDSB) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.05). Equities analysts anticipate that PDS Biotechnology will post -0.47 earnings per share for the current year.

Institutional Trading of PDS Biotechnology

Several large investors have recently modified their holdings of the stock. Everhart Financial Group Inc. acquired a new position in shares of PDS Biotechnology during the 3rd quarter valued at $29,000. Renaissance Technologies LLC grew its holdings in PDS Biotechnology by 25.0% in the first quarter. Renaissance Technologies LLC now owns 220,800 shares of the company’s stock worth $134,000 after purchasing an additional 44,100 shares during the period. Bank of New York Mellon Corp acquired a new stake in PDS Biotechnology in the second quarter worth $60,000. Finally, BlackRock Inc. bought a new stake in PDS Biotechnology in the second quarter valued at $535,000. Institutional investors and hedge funds own 26.84% of the company’s stock.

About PDS Biotechnology

PDS Biotechnology Corporation (NASDAQ: PDSB) is a clinical-stage biopharmaceutical company focused on developing targeted immunotherapies for cancer and infectious diseases. The company’s technology is designed to stimulate the immune system and generate antigen-specific T-cell responses against diseased cells.

PDS Biotech’s lead investigational product is PDS0101, an immunotherapy designed to target human papillomavirus type 16 (HPV16) antigens E6 and E7. The product is being evaluated in combination with other treatments for HPV16-associated cancers, including cervical, anal, and certain head and neck cancers.