Retension Pharmaceuticals, Inc. (NASDAQ:RTSN) Sees Significant Growth in Short Interest

Retension Pharmaceuticals, Inc. (NASDAQ:RTSN) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 62,034 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average daily volume of 118,161 shares, the days-to-cover ratio is presently 0.5 days.

Insider Buying and Selling

In other news, CEO Eric L. Keller bought 20,800 shares of Retension Pharmaceuticals stock in a transaction dated Tuesday, October 13th. The shares were acquired at an average cost of $12.00 per share, with a total value of $249,600.00. Following the completion of the transaction, the chief executive officer owned 423,377 shares in the company, valued at approximately $5,080,524. This trade represents a 5.17% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Franklin M. Berger acquired 10,000 shares of Retension Pharmaceuticals stock in a transaction on Tuesday, October 13th. The shares were bought at an average price of $12.00 per share, for a total transaction of $120,000.00. Following the completion of the purchase, the director directly owned 10,000 shares in the company, valued at $120,000. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Retension Pharmaceuticals Stock Performance

Shares of RTSN stock traded down $0.47 during midday trading on Friday, reaching $11.36. 58,701 shares of the company were exchanged, compared to its average volume of 162,176. Retension Pharmaceuticals has a 12 month low of $9.66 and a 12 month high of $18.64.

About Retension Pharmaceuticals

We are a clinical-stage biopharmaceutical company focused on developing medicines for the treatment of hypertension and other cardiovascular diseases. Our product candidate, RTN-001, is a next-generation, once-daily, oral, small molecule phosphodiesterase-5 (“PDE-5”) inhibitor designed to reduce blood pressure by potentiating nitric oxide signaling, a key mechanism underlying the development and severity of hypertension. While first-generation PDE-5 inhibitors, such as Viagra (sildenafil), were originally studied in cardiovascular indications such as hypertension and angina, we believe they did not have adequate bioavailability and tissue penetration to impact the smooth muscle cells of the central vascular and cardiac tissues and thus failed to achieve clinically meaningful reductions in blood pressure.