Short Interest in XORTX Therapeutics Inc. (NASDAQ:XRTX) Decreases By 79.3%

XORTX Therapeutics Inc. (NASDAQ:XRTX) saw a significant drop in short interest in March. As of March 31st, there was short interest totaling 19,435 shares, a drop of 79.3% from the March 15th total of 93,757 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average trading volume of 50,061 shares, the short-interest ratio is currently 0.4 days.

XORTX Therapeutics Price Performance

Shares of XORTX Therapeutics stock opened at $2.49 on Friday. The business has a 50-day moving average of $2.13 and a 200-day moving average of $2.88. The company has a market capitalization of $3.46 million, a PE ratio of -0.83 and a beta of 0.46. XORTX Therapeutics has a 1-year low of $1.73 and a 1-year high of $7.05.

XORTX Therapeutics (NASDAQ:XRTX) last announced its earnings results on Thursday, February 26th. The technology company reported ($0.45) earnings per share for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of XORTX Therapeutics in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Hedge Funds Weigh In On XORTX Therapeutics

A hedge fund recently bought a new stake in XORTX Therapeutics stock. DRW Securities LLC purchased a new position in shares of XORTX Therapeutics Inc. (NASDAQ:XRTX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 193,599 shares of the technology company’s stock, valued at approximately $109,000. DRW Securities LLC owned about 2.78% of XORTX Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 0.23% of the company’s stock.

About XORTX Therapeutics

Xyratex Ltd (Xyratex) is a provider of data storage technology, including modular solutions for the enterprise data storage industry and hard disk drive (HDD) capital equipment for the HDD industry. Xyratex operates in two segments: Networked Storage Solutions (NSS) and Storage Infrastructure (SI). Its NSS products are primarily HDD based data storage subsystems and solutions, which it provides to original equipment manufacturers. Its SI products consist of HDD manufacturing process equipment, which it sells directly to manufacturers of HDDs and their component suppliers.