ADARx Pharmaceuticals, Inc. (NASDAQ:ADRX) Stock Short Interest Rises 63.6%

ADARx Pharmaceuticals, Inc. (NASDAQ:ADRX) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 1,903,521 shares, an increase of 63.6% from the September 30th total of 1,163,375 shares. Based on an average trading volume of 611,710 shares, the short-interest ratio is currently 3.1 days. Currently, 1.8% of the shares of the stock are short sold.

ADARx Pharmaceuticals Trading Down 7.3%

ADARx Pharmaceuticals stock opened at $15.76 on Tuesday. ADARx Pharmaceuticals has a 52 week low of $15.71 and a 52 week high of $23.21.

Insider Activity at ADARx Pharmaceuticals

In other news, major shareholder Sr One Capital Management, Llc bought 1,600,000 shares of the stock in a transaction on Monday, September 28th. The stock was acquired at an average price of $17.00 per share, with a total value of $27,200,000.00. Following the acquisition, the insider directly owned 5,554,094 shares in the company, valued at approximately $94,419,598. This trade represents a 40.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Simeon George acquired 1,600,000 shares of the stock in a transaction dated Monday, September 28th. The stock was purchased at an average cost of $17.00 per share, with a total value of $27,200,000.00. Following the purchase, the director directly owned 5,554,094 shares of the company’s stock, valued at $94,419,598. This trade represents a 40.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 3,261,516 shares of company stock valued at $55,445,772.

Analysts Set New Price Targets

ADRX has been the subject of a number of recent research reports. Wall Street Zen upgraded ADARx Pharmaceuticals to a “hold” rating in a report on Saturday, October 3rd. UBS Group assumed coverage on ADARx Pharmaceuticals in a report on Tuesday, October 20th. They set a “buy” rating and a $35.00 price target on the stock. Zacks Research upgraded ADARx Pharmaceuticals to a “hold” rating in a report on Wednesday, October 21st. JPMorgan Chase & Co. started coverage on shares of ADARx Pharmaceuticals in a research report on Tuesday, October 20th. They set an “overweight” rating and a $38.00 price objective for the company. Finally, Morgan Stanley initiated coverage on shares of ADARx Pharmaceuticals in a research note on Tuesday, October 20th. They issued an “overweight” rating and a $32.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, ADARx Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $35.00.

ADARx Pharmaceuticals Company Profile

ADARx Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that target disease-driving proteins through RNA-based technologies. The company’s platform is designed to support potent and durable control of protein production, with the goal of creating therapies that may be administered less frequently than conventional treatments.

ADARx is advancing a pipeline of investigational therapeutics for conditions involving the kallikrein-kinin and complement pathways, which are implicated in hereditary angioedema and other immune-mediated or inflammatory diseases.