Short Interest in Medicus Pharma Ltd (NASDAQ:MDCX) Grows By 171.5%

Medicus Pharma Ltd (NASDAQ:MDCX) was the target of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 2,838,930 shares, a growth of 171.5% from the June 30th total of 1,045,598 shares. Based on an average trading volume of 1,143,133 shares, the days-to-cover ratio is currently 2.5 days. Currently, 5.5% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MDCX. Roth Capital started coverage on Medicus Pharma in a research note on Tuesday, April 21st. They set a “buy” rating on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Medicus Pharma in a research note on Wednesday, July 8th. D. Boral Capital reissued a “buy” rating and set a $9.00 target price on shares of Medicus Pharma in a report on Monday, April 20th. Finally, Alliance Global Partners assumed coverage on shares of Medicus Pharma in a research report on Tuesday. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Medicus Pharma has an average rating of “Hold” and a consensus price target of $9.00.

Medicus Pharma Stock Performance

Shares of Medicus Pharma stock traded up $0.00 on Wednesday, reaching $0.28. 328,317 shares of the company were exchanged, compared to its average volume of 3,591,115. The company’s 50-day moving average is $0.37 and its two-hundred day moving average is $0.63. The firm has a market cap of $16.03 million, a price-to-earnings ratio of -0.11 and a beta of -0.05. Medicus Pharma has a 1-year low of $0.25 and a 1-year high of $3.05.

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

Hedge Funds Weigh In On Medicus Pharma

Several hedge funds and other institutional investors have recently modified their holdings of MDCX. Private Advisor Group LLC grew its position in shares of Medicus Pharma by 3.8% during the third quarter. Private Advisor Group LLC now owns 151,500 shares of the company’s stock worth $351,000 after acquiring an additional 5,500 shares during the last quarter. Osaic Holdings Inc. lifted its position in Medicus Pharma by 180.0% in the 2nd quarter. Osaic Holdings Inc. now owns 14,000 shares of the company’s stock valued at $42,000 after purchasing an additional 9,000 shares during the last quarter. Jane Street Group LLC acquired a new position in Medicus Pharma during the 2nd quarter valued at about $41,000. Commonwealth Equity Services LLC boosted its stake in Medicus Pharma by 161.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 28,493 shares of the company’s stock valued at $44,000 after purchasing an additional 17,611 shares during the period. Finally, May Hill Capital LLC grew its position in Medicus Pharma by 100.0% in the 4th quarter. May Hill Capital LLC now owns 35,622 shares of the company’s stock worth $55,000 after purchasing an additional 17,811 shares during the last quarter.

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.