PaxMedica, Inc. (NASDAQ:PXMD) Sees Large Increase in Short Interest

PaxMedica, Inc. (NASDAQ:PXMDGet Free Report) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 552,300 shares, an increase of 2,016.1% from the February 29th total of 26,100 shares. Based on an average daily trading volume, of 289,400 shares, the short-interest ratio is presently 1.9 days. Approximately 8.8% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PXMD. Citadel Advisors LLC purchased a new position in shares of PaxMedica during the 2nd quarter worth approximately $54,000. Virtu Financial LLC purchased a new position in shares of PaxMedica during the 4th quarter worth approximately $43,000. Geode Capital Management LLC purchased a new position in shares of PaxMedica during the 1st quarter worth approximately $59,000. UBS Group AG grew its stake in PaxMedica by 438.3% in the 4th quarter. UBS Group AG now owns 33,404 shares of the company’s stock worth $68,000 after acquiring an additional 27,198 shares during the period. Finally, Jane Street Group LLC purchased a new stake in PaxMedica in the 3rd quarter worth approximately $43,000. 4.90% of the stock is owned by hedge funds and other institutional investors.

PaxMedica Price Performance

Shares of PXMD opened at $0.54 on Thursday. The firm has a 50 day simple moving average of $0.57 and a 200-day simple moving average of $1.83. PaxMedica has a 1-year low of $0.37 and a 1-year high of $40.40. The stock has a market cap of $3.96 million, a price-to-earnings ratio of -0.02 and a beta of 0.62.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and set a $3.00 price objective on shares of PaxMedica in a research note on Monday, December 4th.

Get Our Latest Stock Analysis on PXMD

PaxMedica Company Profile

(Get Free Report)

PaxMedica, Inc, a clinical stage biopharmaceutical company, focuses on the development of anti-purinergic drug therapies for the treatment of disorders with intractable neurologic symptoms. The company's lead product candidate is PAX-101, an intravenous formulation of suramin for the treatment of autism spectrum disorder, myalgic encephalomyelitis/chronic fatigue syndrome, long COVID-19 syndrome, and human African trypanosomiasis (HAT).

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