Adamis Pharmaceuticals Co. (NASDAQ:ADMP) Sees Significant Drop in Short Interest

Adamis Pharmaceuticals Co. (NASDAQ:ADMPGet Rating) saw a large decline in short interest in October. As of October 31st, there was short interest totalling 3,410,000 shares, a decline of 38.3% from the October 15th total of 5,530,000 shares. Based on an average daily trading volume, of 1,800,000 shares, the short-interest ratio is currently 1.9 days.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Adamis Pharmaceuticals in a research report on Thursday. They issued a “hold” rating for the company.

Institutional Investors Weigh In On Adamis Pharmaceuticals

A hedge fund recently raised its stake in Adamis Pharmaceuticals stock. State Street Corp boosted its holdings in Adamis Pharmaceuticals Co. (NASDAQ:ADMPGet Rating) by 13.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 475,373 shares of the specialty pharmaceutical company’s stock after acquiring an additional 55,168 shares during the period. State Street Corp owned 0.32% of Adamis Pharmaceuticals worth $271,000 at the end of the most recent reporting period. 8.58% of the stock is currently owned by hedge funds and other institutional investors.

Adamis Pharmaceuticals Stock Performance

ADMP stock opened at $0.16 on Friday. The business has a 50 day simple moving average of $0.21 and a 200-day simple moving average of $0.34. Adamis Pharmaceuticals has a 1 year low of $0.12 and a 1 year high of $1.08.

Adamis Pharmaceuticals (NASDAQ:ADMPGet Rating) last posted its quarterly earnings results on Wednesday, August 10th. The specialty pharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The firm had revenue of $0.04 million during the quarter, compared to analyst estimates of $1.02 million.

About Adamis Pharmaceuticals

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Adamis Pharmaceuticals Corporation, a specialty biopharmaceutical company, develops and commercializes products in the therapeutic areas of allergy, opioid overdose, respiratory, and inflammatory disease in the United States. The company's product candidates comprise SYMJEPI epinephrine pre-filled syringe injectable products for use in the emergency treatment of acute allergic reactions, including anaphylaxis; dry powder inhaler products for the treatment of asthma; and naloxone injection for the treatment of opioid overdose.

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