Short Interest in Acer Therapeutics Inc. (NASDAQ:ACER) Rises By 26.3%

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Acer Therapeutics Inc. (NASDAQ:ACER) was the recipient of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 412,900 shares, an increase of 26.3% from the March 31st total of 326,900 shares. Based on an average daily volume of 851,800 shares, the days-to-cover ratio is presently 0.5 days.

A hedge fund recently bought a new stake in Acer Therapeutics stock. HighPoint Advisor Group LLC acquired a new stake in shares of Acer Therapeutics Inc. (NASDAQ:ACER) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 29,205 shares of the biopharmaceutical company’s stock, valued at approximately $113,000. HighPoint Advisor Group LLC owned about 0.24% of Acer Therapeutics at the end of the most recent reporting period. 15.64% of the stock is owned by institutional investors.

ACER stock opened at $2.76 on Wednesday. Acer Therapeutics has a 1-year low of $2.13 and a 1-year high of $5.84. The stock has a market capitalization of $39.50 million, a P/E ratio of -1.33 and a beta of 1.69. The business has a fifty day moving average price of $3.08 and a 200-day moving average price of $3.03.

Acer Therapeutics (NASDAQ:ACER) last issued its earnings results on Sunday, February 28th. The biopharmaceutical company reported ($0.50) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by ($0.09). Analysts expect that Acer Therapeutics will post -1.97 EPS for the current year.

Separately, Zacks Investment Research upgraded Acer Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, March 25th.

About Acer Therapeutics

Acer Therapeutics Inc, a pharmaceutical company, focuses on the acquisition, development, and commercialization of therapies for serious rare and life-threatening diseases. Its pipeline includes four clinical-stage candidates: EDSIVO for the treatment of vascular Ehlers-Danlos Syndrome in patients with a confirmed type III collagen mutation; ACER-001, a formulation of sodium phenylbutyrate for the treatment of various inborn errors of metabolism, including urea cycle disorders and maple syrup urine disease; ACER-801 (osanetant) for the treatment of induced Vasomotor Symptoms; and ACER-2820 (emetine), a host-directed therapy against a variety of infectious diseases, including COVID-19.

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