Medicus Pharma Ltd (NASDAQ:MDCX) Sees Significant Decrease in Short Interest

Medicus Pharma Ltd (NASDAQ:MDCX) was the target of a large decrease in short interest in June. As of June 30th, there was short interest totaling 1,045,598 shares, a decrease of 45.8% from the June 15th total of 1,928,591 shares. Approximately 2.0% of the shares of the company are sold short. Based on an average daily trading volume, of 2,653,037 shares, the short-interest ratio is currently 0.4 days.

Medicus Pharma Stock Performance

Shares of MDCX stock opened at $0.36 on Wednesday. The stock has a fifty day moving average price of $0.37 and a 200 day moving average price of $0.72. The stock has a market cap of $20.61 million, a PE ratio of -0.14 and a beta of -0.05. Medicus Pharma has a 1 year low of $0.25 and a 1 year high of $3.35.

Medicus Pharma (NASDAQ:MDCX) last posted its earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.13). As a group, equities research analysts predict that Medicus Pharma will post -0.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MDCX has been the topic of a number of analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Medicus Pharma in a research note on Wednesday, July 8th. Roth Capital initiated coverage on Medicus Pharma in a research report on Tuesday, April 21st. They issued a “buy” rating for the company. Finally, D. Boral Capital reissued a “buy” rating and issued a $9.00 target price on shares of Medicus Pharma in a report on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Medicus Pharma presently has a consensus rating of “Hold” and a consensus price target of $9.00.

Institutional Investors Weigh In On Medicus Pharma

A number of large investors have recently added to or reduced their stakes in the business. Armistice Capital LLC acquired a new position in Medicus Pharma during the fourth quarter worth about $2,771,000. Private Advisor Group LLC grew its position in shares of Medicus Pharma by 36.8% in the first quarter. Private Advisor Group LLC now owns 240,055 shares of the company’s stock valued at $110,000 after purchasing an additional 64,560 shares during the last quarter. Yorkville Advisors Global LP acquired a new stake in shares of Medicus Pharma in the third quarter valued at approximately $532,000. Jane Street Group LLC acquired a new stake in shares of Medicus Pharma in the fourth quarter valued at approximately $92,000. Finally, Wilmington Savings Fund Society FSB increased its stake in shares of Medicus Pharma by 100.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 51,244 shares of the company’s stock worth $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.