ADARx Pharmaceuticals, Inc. (NASDAQ:ADRX) Sees Significant Growth in Short Interest

ADARx Pharmaceuticals, Inc. (NASDAQ:ADRX) was the recipient of a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 1,163,375 shares. Based on an average trading volume of 669,771 shares, the days-to-cover ratio is presently 1.7 days.

Insiders Place Their Bets

In other news, major shareholder Sr One Capital Management, Llc bought 1,600,000 shares of ADARx Pharmaceuticals stock in a transaction dated Monday, September 28th. The stock was purchased at an average price of $17.00 per share, for a total transaction of $27,200,000.00. Following the purchase, the insider directly owned 5,554,094 shares in the company, valued at $94,419,598. The trade was a 40.46% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Erez Chimovits bought 61,516 shares of ADARx Pharmaceuticals stock in a transaction dated Monday, September 28th. The stock was purchased at an average price of $17.00 per share, with a total value of $1,045,772.00. Following the purchase, the director owned 9,292,025 shares in the company, valued at approximately $157,964,425. This represents a 0.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 3,261,516 shares of company stock valued at $55,445,772 in the last three months.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of ADARx Pharmaceuticals to a “hold” rating in a research report on Saturday, October 3rd.

ADARx Pharmaceuticals Stock Down 0.2%

Shares of ADRX traded down $0.04 on Thursday, reaching $17.79. 48,985 shares of the company’s stock traded hands, compared to its average volume of 703,551. ADARx Pharmaceuticals has a 52-week low of $16.64 and a 52-week high of $23.21.

About ADARx Pharmaceuticals

ADARx Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing RNA-based medicines for immune-mediated and other serious diseases. The company is headquartered in San Diego, California, and uses proprietary technologies designed to modulate disease-related proteins at the RNA level.

ADARx’s pipeline includes investigational therapies intended to address conditions involving the complement system, coagulation pathways and other biologic mechanisms. Its programs are designed to provide targeted, durable treatment through approaches such as RNA interference and related forms of RNA-based therapeutic intervention.

Founded in 2018, ADARx has advanced its drug candidates through preclinical and clinical development and has pursued regulatory and clinical activities in the United States and other international markets.