Citius Pharmaceuticals, Inc. (NASDAQ:CTXR) Sees Significant Growth in Short Interest

Citius Pharmaceuticals, Inc. (NASDAQ:CTXR) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totaling 3,166,818 shares, a growth of 20.5% from the December 15th total of 2,628,101 shares. Approximately 17.1% of the company’s shares are sold short. Based on an average daily volume of 2,555,483 shares, the days-to-cover ratio is currently 1.2 days. Based on an average daily volume of 2,555,483 shares, the days-to-cover ratio is currently 1.2 days. Approximately 17.1% of the company’s shares are sold short.

Citius Pharmaceuticals Stock Performance

CTXR stock traded up $0.00 during midday trading on Monday, hitting $0.86. 274,230 shares of the stock were exchanged, compared to its average volume of 1,537,767. The stock has a market cap of $17.81 million, a price-to-earnings ratio of -0.25 and a beta of 1.56. Citius Pharmaceuticals has a fifty-two week low of $0.63 and a fifty-two week high of $3.40. The stock’s 50-day moving average price is $1.04 and its 200-day moving average price is $1.28.

Hedge Funds Weigh In On Citius Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTXR. Arkadios Wealth Advisors lifted its holdings in shares of Citius Pharmaceuticals by 100.0% in the second quarter. Arkadios Wealth Advisors now owns 20,000 shares of the company’s stock valued at $32,000 after purchasing an additional 10,000 shares in the last quarter. XTX Topco Ltd purchased a new stake in Citius Pharmaceuticals in the 2nd quarter valued at approximately $32,000. Finally, NewEdge Advisors LLC acquired a new stake in Citius Pharmaceuticals during the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 16.88% of the company’s stock.

Wall Street Analysts Forecast Growth

CTXR has been the topic of a number of recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Citius Pharmaceuticals in a research note on Monday, December 29th. Wall Street Zen raised Citius Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Saturday, December 27th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $6.00 price target on shares of Citius Pharmaceuticals in a research note on Thursday, December 4th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.00.

Citius Pharmaceuticals Company Profile

Citius Pharmaceuticals is a clinical‐stage specialty pharmaceutical company focused on the development and commercialization of critical care products and novel drug delivery systems. Headquartered in Cranford, New Jersey, the company aims to address unmet medical needs in acute care, hospital‐acquired infections and subcutaneous delivery of biologics. Citius operates as a Delaware corporation and trades on the NASDAQ under the symbol CTXR.

One of the company’s leading assets is Mino-Lok, an antibiotic lock solution designed to treat catheter‐related bloodstream infections without catheter removal.