Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) Sees Significant Increase in Short Interest

Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 67,330 shares, an increase of 759.2% from the June 15th total of 7,836 shares. Based on an average trading volume of 399,320 shares, the days-to-cover ratio is currently 0.2 days. Approximately 3.4% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Biodexa Pharmaceuticals from a “sell (e)” rating to a “sell (e+)” rating in a report on Thursday, June 18th. Wall Street Zen downgraded shares of Biodexa Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, March 30th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Biodexa Pharmaceuticals stock. Sabby Management LLC purchased a new stake in Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 190,658 shares of the company’s stock, valued at approximately $433,000. Biodexa Pharmaceuticals accounts for 0.6% of Sabby Management LLC’s portfolio, making the stock its 10th largest position. Sabby Management LLC owned 28.04% of Biodexa Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission. 17.51% of the stock is currently owned by institutional investors and hedge funds.

Biodexa Pharmaceuticals Price Performance

NASDAQ BDRX traded down $0.10 during trading on Friday, reaching $2.49. 16,657 shares of the company’s stock were exchanged, compared to its average volume of 224,384. The business has a 50 day moving average price of $3.22 and a 200-day moving average price of $5.53. Biodexa Pharmaceuticals has a fifty-two week low of $2.40 and a fifty-two week high of $66.50.

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.