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

Medicus Pharma Ltd (NASDAQ:MDCX) saw a large growth in short interest in 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. Based on an average daily trading volume, of 20,131,918 shares, the short-interest ratio is presently 0.2 days. Currently, 15.7% of the company’s stock are sold short.

Institutional Trading of Medicus Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Armistice Capital LLC purchased a new position in Medicus Pharma during the fourth quarter valued at approximately $2,771,000. Yorkville Advisors Global LP acquired a new position in shares of Medicus Pharma in the 3rd quarter valued at $532,000. Private Advisor Group LLC lifted its stake in shares of Medicus Pharma by 3.8% in 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 period. Jane Street Group LLC purchased a new stake in Medicus Pharma during the fourth quarter worth $92,000. Finally, Wilmington Savings Fund Society FSB grew its position in 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 buying an additional 25,622 shares during the period.

Medicus Pharma Trading Down 5.7%

Shares of NASDAQ MDCX traded down $0.03 during midday trading on Thursday, reaching $0.47. The company had a trading volume of 3,028,484 shares, compared to its average volume of 10,753,692. Medicus Pharma has a 1 year low of $0.37 and a 1 year high of $8.94. The business’s 50-day simple moving average is $0.99 and its 200 day simple moving average is $1.73. The stock has a market cap of $11.90 million, a P/E ratio of -0.17 and a beta of -1.58.

Analyst Ratings Changes

A number of research firms have commented on MDCX. D. Boral Capital reiterated a “buy” rating and issued a $27.00 price target on shares of Medicus Pharma in a research note on Thursday, March 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Medicus Pharma in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Medicus Pharma currently has a consensus rating of “Hold” and a consensus target price of $23.50.

About Medicus Pharma

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.