Medicus Pharma Ltd (NASDAQ:MDCX) Shares Shorted: Short Interest Up 49.0% in September

Medicus Pharma Ltd (NASDAQ:MDCX) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totaling 4,998,570 shares, an increase of 49.0% from the August 31st total of 3,355,388 shares. Based on an average daily volume of 16,776,075 shares, the short-interest ratio is currently 0.3 days. Approximately 8.6% of the shares of the stock are sold short.

Institutional Trading of Medicus Pharma

An institutional investor recently raised its position in Medicus Pharma stock. Private Advisor Group LLC lifted its position in shares of Medicus Pharma Ltd (NASDAQ:MDCX) by 36.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 240,055 shares of the company’s stock after acquiring an additional 64,560 shares during the quarter. Private Advisor Group LLC owned approximately 0.61% of Medicus Pharma worth $110,000 at the end of the most recent reporting period.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Medicus Pharma in a report on Wednesday, July 8th. Alliance Global Partners reissued a “buy” rating on shares of Medicus Pharma in a report on Monday, September 14th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Medicus Pharma Stock Down 0.6%

Shares of MDCX stock traded down $0.00 on Thursday, reaching $0.16. The company had a trading volume of 1,019,070 shares, compared to its average volume of 4,089,770. The business’s 50-day moving average is $0.24 and its 200 day moving average is $0.33. Medicus Pharma has a one year low of $0.14 and a one year high of $2.78. The stock has a market capitalization of $10.11 million, a PE ratio of -0.07 and a beta of 0.12.

Medicus Pharma (NASDAQ:MDCX) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.08). On average, sell-side analysts forecast that Medicus Pharma will post -0.73 earnings per share for the current fiscal year.

Medicus Pharma Company Profile

Medicus Pharma Ltd. is a life sciences company focused on the development, acquisition and commercialization of pharmaceutical and medical technologies. The company’s activities are centered primarily on specialty healthcare markets, including dermatology, wound care and medical aesthetics.

Medicus Pharma seeks to advance products and therapies intended to address underserved clinical needs and to expand access to innovative treatments. Its portfolio may include internally developed and acquired products, with commercialization efforts directed toward healthcare providers and patients in markets where the company has appropriate regulatory and distribution capabilities.

The company is based in Canada and trades on the Nasdaq Capital Market under the symbol MDCX.