Short Interest in VYNE Therapeutics Inc. (NASDAQ:VYNE) Declines By 29.5%

VYNE Therapeutics Inc. (NASDAQ:VYNE) saw a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 796,900 shares, a decline of 29.5% from the September 30th total of 1,130,000 shares. Currently, 3.6% of the shares of the company are sold short. Based on an average daily trading volume, of 2,960,000 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily trading volume, of 2,960,000 shares, the days-to-cover ratio is currently 0.3 days. Currently, 3.6% of the shares of the company are sold short.

Institutional Investors Weigh In On VYNE Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VYNE. DAFNA Capital Management LLC bought a new position in shares of VYNE Therapeutics during the 1st quarter valued at approximately $1,005,000. Kennedy Capital Management LLC bought a new position in shares of VYNE Therapeutics during the 2nd quarter valued at approximately $942,000. Acorn Capital Advisors LLC lifted its stake in shares of VYNE Therapeutics by 72.0% in the 1st quarter. Acorn Capital Advisors LLC now owns 785,938 shares of the company’s stock valued at $1,242,000 after purchasing an additional 328,968 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of VYNE Therapeutics by 87.2% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 644,134 shares of the company’s stock valued at $1,063,000 after purchasing an additional 300,000 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of VYNE Therapeutics in the 2nd quarter valued at approximately $206,000. 83.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Lifesci Capital cut shares of VYNE Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. HC Wainwright cut shares of VYNE Therapeutics from a “buy” rating to a “neutral” rating in a report on Wednesday, July 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of VYNE Therapeutics in a research report on Wednesday, October 8th. Finally, BTIG Research lowered VYNE Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, July 31st. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $6.25.

VYNE Therapeutics Price Performance

VYNE opened at $0.36 on Monday. VYNE Therapeutics has a 1 year low of $0.28 and a 1 year high of $4.30. The stock has a 50-day moving average price of $0.34 and a 200-day moving average price of $0.82. The firm has a market cap of $9.06 million, a PE ratio of -0.40 and a beta of 1.95.

VYNE Therapeutics (NASDAQ:VYNE) last issued its earnings results on Thursday, August 14th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.10. VYNE Therapeutics had a negative return on equity of 77.57% and a negative net margin of 8,097.69%.The business had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.15 million. As a group, sell-side analysts anticipate that VYNE Therapeutics will post -0.97 EPS for the current year.

About VYNE Therapeutics

VYNE Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing proprietary and therapeutics for the treatment of immuno-inflammatory conditions. The company's lead product is VYN201, a locally administered pan- bromodomain and extra-terminal (BET) inhibitor soft drug to address diseases involving multiple, diverse inflammatory cell signaling pathways with low systemic exposure.