Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) Sees Significant Growth in Short Interest

Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) was the recipient of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 67,330 shares, a growth of 759.2% from the June 15th total of 7,836 shares. Currently, 3.4% of the shares of the company are short sold. Based on an average trading volume of 399,320 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Biodexa Pharmaceuticals stock. Armistice Capital LLC bought a new position in shares of Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 100,000 shares of the company’s stock, valued at approximately $227,000. Armistice Capital LLC owned about 14.71% of Biodexa Pharmaceuticals at the end of the most recent reporting period. Hedge funds and other institutional investors own 17.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Weiss Ratings upgraded Biodexa Pharmaceuticals from a “sell (e)” rating to a “sell (e+)” rating in a research note on Thursday, June 18th. Wall Street Zen downgraded Biodexa Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, March 30th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Biodexa Pharmaceuticals Price Performance

BDRX stock opened at $2.49 on Monday. The company’s 50-day moving average price is $3.22 and its two-hundred day moving average price is $5.53. Biodexa Pharmaceuticals has a 12 month low of $2.40 and a 12 month high of $66.50.

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.