Medicus Pharma Ltd (NASDAQ:MDCX) Short Interest Up 290.7% in March

Medicus Pharma Ltd (NASDAQ:MDCX) was the recipient of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 3,559,666 shares, a growth of 290.7% from the February 26th total of 911,128 shares. Approximately 15.7% of the shares of the stock are sold short. Based on an average daily volume of 20,131,918 shares, the short-interest ratio is currently 0.2 days.

Analyst Ratings Changes

MDCX has been the topic of a number of analyst reports. D. Boral Capital restated a “buy” rating and set a $27.00 target price on shares of Medicus Pharma in a research note on Thursday, March 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Medicus Pharma in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.50.

Medicus Pharma Price Performance

MDCX stock opened at $0.47 on Friday. Medicus Pharma has a 1-year low of $0.37 and a 1-year high of $8.94. The company has a market capitalization of $11.90 million, a price-to-earnings ratio of -0.17 and a beta of -1.58. The business has a 50 day simple moving average of $0.99 and a two-hundred day simple moving average of $1.73.

Medicus Pharma (NASDAQ:MDCX) last announced its quarterly earnings data on Wednesday, March 25th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.50). Sell-side analysts anticipate that Medicus Pharma will post -1.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Medicus Pharma

Institutional investors have recently bought and sold shares of the stock. Armistice Capital LLC bought a new stake in Medicus Pharma in the 4th quarter valued at $2,771,000. Yorkville Advisors Global LP bought a new position in shares of Medicus Pharma during the 3rd quarter valued at about $532,000. Private Advisor Group LLC boosted its holdings in shares of Medicus Pharma by 3.8% during the 3rd quarter. Private Advisor Group LLC now owns 151,500 shares of the company’s stock valued at $351,000 after purchasing an additional 5,500 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Medicus Pharma during the fourth quarter valued at about $92,000. Finally, Wilmington Savings Fund Society FSB grew its position in shares of Medicus Pharma by 100.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 51,244 shares of the company’s stock valued at $78,000 after purchasing an additional 25,622 shares in the last quarter.

Medicus Pharma Company Profile

Medicus Pharma, Inc, traded on the Nasdaq under the ticker MDCX, is a specialty pharmaceutical company focused on the development, acquisition and commercialization of prescription therapies. The company’s core business centers on oncology supportive care and critical care products, with its lead offering being Levoleucovorin injection, an FDA-approved agent designed to reduce toxicity and enhance efficacy of certain chemotherapeutic regimens in colorectal cancer.

Headquartered in the United States, Medicus Pharma has built its portfolio through strategic licensing and acquisition of sterile injectable and oral therapies.