Mangoceuticals, Inc. (NASDAQ:MGRX) Sees Large Decrease in Short Interest

Mangoceuticals, Inc. (NASDAQ:MGRX) was the target of a significant decrease in short interest in March. As of March 13th, there was short interest totaling 1,222,450 shares, a decrease of 29.6% from the February 26th total of 1,737,241 shares. Currently, 8.9% of the company’s stock are short sold. Based on an average daily volume of 3,780,079 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Mangoceuticals in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in Mangoceuticals by 35.4% in the 2nd quarter. Geode Capital Management LLC now owns 26,498 shares of the company’s stock worth $40,000 after buying an additional 6,928 shares in the last quarter. Jane Street Group LLC purchased a new position in Mangoceuticals in the 4th quarter worth about $35,000. Armistice Capital LLC bought a new position in Mangoceuticals during the 4th quarter valued at about $1,137,000. Boothbay Fund Management LLC bought a new position in Mangoceuticals during the 4th quarter valued at about $28,000. Finally, Ikarian Capital LLC purchased a new stake in shares of Mangoceuticals during the 4th quarter valued at about $102,000. 56.72% of the stock is owned by institutional investors.

Mangoceuticals Price Performance

NASDAQ MGRX traded up $0.12 during mid-day trading on Friday, reaching $0.49. The stock had a trading volume of 6,719,848 shares, compared to its average volume of 18,693,282. The stock has a market cap of $7.94 million, a PE ratio of -0.14 and a beta of 2.33. Mangoceuticals has a 1 year low of $0.16 and a 1 year high of $2.88. The company has a fifty day moving average price of $0.42 and a 200 day moving average price of $1.18.

Mangoceuticals Company Profile

Mangoceuticals, Inc develops, markets, and sells various men's wellness products and services through a telemedicine platform in the United States. It offers erectile dysfunction (ED) products under the Mango brand and hair loss products under the Grow brand name. The company markets and sells these branded ED and hair loss products online through its website at MangoRx.com. Mangoceuticals, Inc has a marketing agreement with Marius Pharmaceuticals, LLC to market and sell KYZATREX, an oral testosterone replacement therapy product under the PRIME program.