Short Interest in Acer Therapeutics Inc. (NASDAQ:ACER) Drops By 18.8%

Acer Therapeutics Inc. (NASDAQ:ACERGet Rating) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 66,500 shares, a decrease of 18.8% from the August 15th total of 81,900 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average daily trading volume, of 130,400 shares, the days-to-cover ratio is presently 0.5 days.

Acer Therapeutics Stock Down 4.0 %

NASDAQ:ACER opened at $1.43 on Friday. The company has a fifty day moving average of $1.46 and a 200 day moving average of $1.93. Acer Therapeutics has a 52 week low of $1.16 and a 52 week high of $3.77. The firm has a market capitalization of $22.79 million, a P/E ratio of -1.06 and a beta of 1.47.

Acer Therapeutics (NASDAQ:ACERGet Rating) last posted its quarterly earnings results on Monday, August 15th. The biopharmaceutical company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.40. As a group, analysts anticipate that Acer Therapeutics will post -2.63 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Acer Therapeutics by 55.5% in the 1st quarter. Vanguard Group Inc. now owns 278,215 shares of the biopharmaceutical company’s stock worth $807,000 after purchasing an additional 99,335 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Acer Therapeutics by 216.8% in the 2nd quarter. Renaissance Technologies LLC now owns 69,700 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 47,700 shares in the last quarter. Finally, Copperwynd Financial LLC bought a new position in Acer Therapeutics in the 2nd quarter worth $29,000. 9.76% of the stock is currently owned by institutional investors.

About Acer Therapeutics

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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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