Short Interest in Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) Drops By 40.6%

Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) saw a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 7,530 shares, a drop of 40.6% from the March 15th total of 12,677 shares. Based on an average trading volume of 81,983 shares, the days-to-cover ratio is currently 0.1 days. Approximately 5.5% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BDRX. Weiss Ratings reissued a “sell (e+)” rating on shares of Biodexa Pharmaceuticals in a report on Monday, December 29th. Wall Street Zen lowered Biodexa Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, March 30th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Biodexa Pharmaceuticals presently has a consensus rating of “Sell”.

Biodexa Pharmaceuticals Stock Performance

Shares of NASDAQ BDRX opened at $3.10 on Tuesday. Biodexa Pharmaceuticals has a 52 week low of $2.86 and a 52 week high of $96.50. The business has a 50-day simple moving average of $4.73 and a two-hundred day simple moving average of $17.23.

Biodexa Pharmaceuticals (NASDAQ:BDRX) last issued its earnings results on Friday, March 27th. The company reported $3.52 EPS for the quarter, topping the consensus estimate of ($0.01) by $3.53. On average, equities research analysts expect that Biodexa Pharmaceuticals will post -1.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Biodexa Pharmaceuticals stock. Sabby Management LLC bought a new position in Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 190,658 shares of the company’s stock, valued at approximately $433,000. Biodexa Pharmaceuticals accounts for approximately 0.6% of Sabby Management LLC’s investment portfolio, making the stock its 10th biggest holding. Sabby Management LLC owned approximately 28.04% of Biodexa Pharmaceuticals as of its most recent filing with the SEC. Institutional investors own 17.51% of the company’s stock.

About Biodexa Pharmaceuticals

Biodexa Pharmaceuticals Plc, a clinical stage biopharmaceutical company, focuses on developing a pipeline of products for the treatment of Type 1 diabetes and rare/orphan cancers of the brain. Its lead product candidate Tolimidone, a selective activator of the lyn kinase enzyme, currently under Phase II studies for the treatment of Type 1 diabetes. The company is also developing MTX110, which is currently in Phase I studies for the treatment of diffuse intrinsic recurrent glioblastoma, diffuse midline glioma, and medulloblastoma; and MTD217, a program centered around a water-soluble drug formulation that can be easily infused or injected simultaneously, or sequentially, directly into the cancer microenvironment, currently under preclinical studies for the treatment of leptomeningeal disease.