Short Interest in Adamis Pharmaceuticals Corp. (ADMP) Increases By 31.2%
Adamis Pharmaceuticals Corp. (NASDAQ:ADMP) was the target of a large growth in short interest in September. As of September 15th, there was short interest totalling 1,833,763 shares, a growth of 31.2% from the August 31st total of 1,397,862 shares. Approximately 10.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 630,643 shares, the short-interest ratio is presently 2.9 days.
Institutional investors have recently bought and sold shares of the company. Walleye Trading LLC raised its position in Adamis Pharmaceuticals Corp. by 118.1% in the second quarter. Walleye Trading LLC now owns 275,078 shares of the specialty pharmaceutical company’s stock worth $770,000 after buying an additional 148,966 shares during the last quarter. Vanguard Group Inc. raised its position in Adamis Pharmaceuticals Corp. by 21.8% in the second quarter. Vanguard Group Inc. now owns 335,814 shares of the specialty pharmaceutical company’s stock worth $940,000 after buying an additional 60,197 shares during the last quarter. Finally, BlackRock Fund Advisors raised its position in Adamis Pharmaceuticals Corp. by 24.7% in the second quarter. BlackRock Fund Advisors now owns 49,806 shares of the specialty pharmaceutical company’s stock worth $139,000 after buying an additional 9,868 shares during the last quarter. Hedge funds and other institutional investors own 9.70% of the company’s stock.
Separately, Maxim Group set a $10.00 price objective on shares of Adamis Pharmaceuticals Corp. and gave the company a “buy” rating in a report on Monday, September 19th.
Adamis Pharmaceuticals Corp. (NASDAQ:ADMP) opened at 3.12 on Friday. Adamis Pharmaceuticals Corp. has a 12-month low of $2.50 and a 12-month high of $10.98. The firm’s 50 day moving average is $3.07 and its 200 day moving average is $4.81. The company’s market cap is $65.16 million.
About Adamis Pharmaceuticals Corp.
Adamis Pharmaceuticals Corporation is a pharmaceutical company. The Company is engaged in the development of its specialty pharmaceutical products. The Company is developing various products in the allergy and respiratory markets, including a dry powder inhaler technology that it acquired from 3M Company (3M).
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