Acer Therapeutics Inc. (NASDAQ:ACER – Get Free Report) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 524,900 shares, a growth of 6.3% from the October 15th total of 493,600 shares. Currently, 13.8% of the company’s stock are sold short. Based on an average trading volume of 2,310,000 shares, the days-to-cover ratio is currently 0.2 days.
Institutional Investors Weigh In On Acer Therapeutics
A number of large investors have recently modified their holdings of the company. Armistice Capital LLC purchased a new position in Acer Therapeutics in the first quarter valued at approximately $1,672,000. Vanguard Group Inc. increased its stake in Acer Therapeutics by 55.5% in the first quarter. Vanguard Group Inc. now owns 278,215 shares of the biopharmaceutical company’s stock valued at $807,000 after purchasing an additional 99,335 shares during the last quarter. Tudor Investment Corp Et Al purchased a new position in Acer Therapeutics in the third quarter valued at approximately $756,000. Hudson Bay Capital Management LP purchased a new position in Acer Therapeutics in the second quarter valued at approximately $253,000. Finally, Geode Capital Management LLC increased its stake in Acer Therapeutics by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 96,330 shares of the biopharmaceutical company’s stock valued at $241,000 after purchasing an additional 5,515 shares during the last quarter. 17.21% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have recently weighed in on ACER shares. HC Wainwright lowered Acer Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 5th. Roth Capital reaffirmed a “neutral” rating and set a $1.50 price objective on shares of Acer Therapeutics in a research report on Friday, September 1st. Finally, Roth Mkm downgraded shares of Acer Therapeutics from a “buy” rating to a “neutral” rating and set a $1.50 price objective on the stock. in a research report on Friday, September 1st.
Acer Therapeutics Trading Down 0.7 %
Shares of NASDAQ:ACER opened at $0.80 on Friday. Acer Therapeutics has a 52 week low of $0.55 and a 52 week high of $4.56. The company’s 50 day moving average is $0.82 and its two-hundred day moving average is $0.83. The company has a market cap of $19.68 million, a PE ratio of -1.96 and a beta of 0.44.
Acer Therapeutics Company Profile
Acer Therapeutics Inc, a pharmaceutical company, focuses on the acquisition, development, and commercialization of therapies for serious rare and life-threatening diseases. The company's 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-801 for the treatment of induced Vasomotor Symptoms, post-traumatic stress disorder, and prostate cancer; and OLPRUVA, a formulation of sodium phenylbutyrate for the treatment of various inborn errors of metabolism, including urea cycle disorders and maple syrup urine disease.
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