Estrella Immunopharma, Inc. (NASDAQ:ESLA) Stock Short Interest Jumps 180.2%

Estrella Immunopharma, Inc. (NASDAQ:ESLA) was the target of a large growth in short interest in October. As of October 15th, there was short interest totaling 599,647 shares, a growth of 180.2% from the September 30th total of 214,030 shares. Based on an average daily volume of 7,569,648 shares, the days-to-cover ratio is presently 0.1 days. Approximately 1.5% of the shares of the company are short sold.

Estrella Immunopharma Stock Down 11.3%

ESLA traded down $0.09 during trading on Thursday, reaching $0.73. The company’s stock had a trading volume of 270,200 shares, compared to its average volume of 627,706. The company has a market cap of $31.70 million, a price-to-earnings ratio of -3.04 and a beta of 0.93. The firm has a fifty day simple moving average of $0.59 and a two-hundred day simple moving average of $0.99. Estrella Immunopharma has a 1 year low of $0.24 and a 1 year high of $3.15.

Estrella Immunopharma (NASDAQ:ESLA) last posted its earnings results on Thursday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.04. As a group, equities analysts forecast that Estrella Immunopharma will post -0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Estrella Immunopharma stock. BlackRock Inc. bought a new position in shares of Estrella Immunopharma, Inc. (NASDAQ:ESLA) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 52,033 shares of the company’s stock, valued at approximately $54,000. BlackRock Inc. owned 0.12% of Estrella Immunopharma at the end of the most recent quarter. 0.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Estrella Immunopharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $8.00.

About Estrella Immunopharma

Estrella Immunopharma, Inc (NASDAQ: ESLA) is a clinical-stage biopharmaceutical company focused on developing cellular immunotherapies for cancer and other serious diseases. The company’s work centers on genetically engineered T-cell therapies designed to recognize and destroy target cells.

Estrella’s lead program is EB103, a CD19-directed chimeric antigen receptor T-cell (CAR-T) therapy being developed for the treatment of certain B-cell malignancies. The company has described EB103 as being based on its ARTEMIS platform, which is intended to support targeted immune-cell activity while addressing some limitations associated with conventional CAR-T therapies.

Estrella became a publicly traded company through a business combination with TradeUP Global Corporation.