Acer Therapeutics Inc. (NASDAQ:ACER – Get Rating) saw a significant growth in short interest in May. As of May 15th, there was short interest totalling 245,600 shares, a growth of 313.5% from the April 30th total of 59,400 shares. Based on an average trading volume of 456,300 shares, the short-interest ratio is currently 0.5 days. Currently, 1.9% of the shares of the company are short sold.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Acer Therapeutics by 55.5% during the first quarter. Vanguard Group Inc. now owns 278,215 shares of the biopharmaceutical company’s stock worth $807,000 after buying an additional 99,335 shares during the period. Geode Capital Management LLC raised its holdings in Acer Therapeutics by 32.4% during the fourth quarter. Geode Capital Management LLC now owns 84,761 shares of the biopharmaceutical company’s stock worth $194,000 after purchasing an additional 20,737 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Acer Therapeutics during the fourth quarter worth about $40,000. Finally, Millennium Management LLC purchased a new position in Acer Therapeutics during the second quarter worth about $33,000. Institutional investors and hedge funds own 10.34% of the company’s stock.
Several research firms have issued reports on ACER. HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Acer Therapeutics in a research note on Tuesday, March 15th. Zacks Investment Research downgraded shares of Acer Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Friday, May 20th.
Acer Therapeutics (NASDAQ:ACER – Get Rating) last announced its earnings results on Monday, May 16th. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.22). As a group, sell-side analysts forecast that Acer Therapeutics will post -2.29 earnings per share for the current fiscal year.
Acer Therapeutics Company Profile (Get Rating)
Acer Therapeutics Inc, a pharmaceutical company, focuses on the acquisition, development, and commercialization of therapies for serious rare and life-threatening diseases. Its pipeline includes four clinical-stage candidates comprising EDSIVO for the treatment of vascular Ehlers-Danlos Syndrome in patients with a confirmed type III collagen mutation; ACER-001, a formulation of sodium phenylbutyrate for the treatment of various inborn errors of metabolism, including urea cycle disorders and maple syrup urine disease; ACER-801 (osanetant) for the treatment of induced Vasomotor Symptoms; and ACER-2820 (emetine), a host-directed therapy against a variety of infectious diseases, including COVID-19.
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