Quantum Biopharma Ltd. (NASDAQ:QNTM) Sees Significant Decrease in Short Interest

Quantum Biopharma Ltd. (NASDAQ:QNTM) was the target of a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 83,550 shares, a drop of 23.0% from the February 12th total of 108,439 shares. Currently, 2.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 33,437 shares, the days-to-cover ratio is presently 2.5 days. Based on an average daily trading volume, of 33,437 shares, the days-to-cover ratio is presently 2.5 days. Currently, 2.4% of the shares of the stock are short sold.

Hedge Funds Weigh In On Quantum Biopharma

Several institutional investors and hedge funds have recently made changes to their positions in QNTM. Jane Street Group LLC acquired a new stake in shares of Quantum Biopharma during the fourth quarter worth approximately $80,000. Virtu Financial LLC bought a new position in Quantum Biopharma during the 4th quarter valued at $76,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in Quantum Biopharma during the 2nd quarter worth $63,000. 1.24% of the stock is currently owned by hedge funds and other institutional investors.

Quantum Biopharma Stock Performance

Shares of NASDAQ QNTM opened at $2.36 on Tuesday. Quantum Biopharma has a 1 year low of $2.07 and a 1 year high of $38.25. The stock’s 50-day simple moving average is $4.65 and its 200-day simple moving average is $9.52. The firm has a market cap of $9.02 million, a price-to-earnings ratio of -0.22 and a beta of 0.33.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on QNTM. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quantum Biopharma in a report on Monday, December 29th. Wall Street Zen lowered shares of Quantum Biopharma from a “hold” rating to a “sell” rating in a research report on Saturday, January 24th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Quantum Biopharma presently has an average rating of “Sell”.

About Quantum Biopharma

Quantum Biopharma Ltd. is a biotechnology pharmaceutical research and development company, which focuses on the cultivation, process, and sale of medical cannabis. It operates through the Biotechnology and Strategic Investments segments. The Biotechnology segment is involved in the research and development of the company’s three drug candidates consisting of FSD-PEA, Lucid-PSYCH, and Lucid-MS. The Strategic Investments segment is focused on generating returns and cashflow through the issuance of loans secured by residential or commercial property.