Short Interest in Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) Rises By 593.2%

Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 33,356 shares, an increase of 593.2% from the August 15th total of 4,812 shares. Based on an average daily volume of 1,671,352 shares, the short-interest ratio is currently 0.0 days. Currently, 3.3% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Biodexa Pharmaceuticals from a “sell (e)” rating to a “sell (e+)” rating in a report on Thursday, June 18th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Biodexa Pharmaceuticals currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Biodexa Pharmaceuticals

A hedge fund recently bought a new stake in Biodexa Pharmaceuticals stock. Armistice Capital LLC purchased a new position in shares of Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 100,000 shares of the company’s stock, valued at approximately $227,000. Armistice Capital LLC owned about 14.71% of Biodexa Pharmaceuticals at the end of the most recent quarter. Institutional investors own 17.51% of the company’s stock.

Biodexa Pharmaceuticals Stock Down 18.7%

Shares of BDRX opened at $0.66 on Friday. Biodexa Pharmaceuticals has a 52-week low of $0.61 and a 52-week high of $59.40. The firm’s fifty day moving average is $1.55 and its two-hundred day moving average is $2.91.

About Biodexa Pharmaceuticals

Biodexa Pharmaceuticals Plc, a clinical stage biopharmaceutical company, focuses on developing a pipeline of products for the treatment of Type 1 diabetes and rare/orphan cancers of the brain. Its lead product candidate Tolimidone, a selective activator of the lyn kinase enzyme, currently under Phase II studies for the treatment of Type 1 diabetes. The company is also developing MTX110, which is currently in Phase I studies for the treatment of diffuse intrinsic recurrent glioblastoma, diffuse midline glioma, and medulloblastoma; and MTD217, a program centered around a water-soluble drug formulation that can be easily infused or injected simultaneously, or sequentially, directly into the cancer microenvironment, currently under preclinical studies for the treatment of leptomeningeal disease.