NervGen Pharma (NASDAQ:NGEN) Short Interest Update

NervGen Pharma (NASDAQ:NGEN) was the recipient of a large growth in short interest in May. As of May 29th, there was short interest totaling 3,085,310 shares, a growth of 97.4% from the May 14th total of 1,563,015 shares. Based on an average daily trading volume, of 2,424,478 shares, the days-to-cover ratio is currently 1.3 days. Approximately 3.8% of the company’s stock are short sold.

Wall Street Analyst Weigh In

NGEN has been the topic of several analyst reports. Stifel Nicolaus raised shares of NervGen Pharma to a “strong-buy” rating in a research report on Thursday, April 23rd. Wall Street Zen raised shares of NervGen Pharma from a “sell” rating to a “hold” rating in a research report on Friday, May 29th. HC Wainwright raised shares of NervGen Pharma to a “strong-buy” rating in a research report on Tuesday, April 28th. Zacks Research raised shares of NervGen Pharma to a “hold” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings began coverage on shares of NervGen Pharma in a research note on Friday, April 24th. They set a “sell (d-)” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

NervGen Pharma Stock Performance

Shares of NervGen Pharma stock traded up $0.03 during trading on Friday, hitting $1.92. 677,012 shares of the stock were exchanged, compared to its average volume of 422,759. NervGen Pharma has a 1-year low of $1.70 and a 1-year high of $6.30.

NervGen Pharma (NASDAQ:NGEN) last released its quarterly earnings data on Friday, May 15th. The company reported $999.00 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $999.07.

About NervGen Pharma

NervGen Pharma Corp. is a clinical-stage biotechnology company focused on developing therapies to promote nerve repair and restore neurological function following injury or disease. The company advances regenerative approaches intended to address damage in the central and peripheral nervous systems, pursuing programs that aim to translate preclinical repair concepts into human treatments.

The company’s lead investigational candidate is NVG-291, which is being evaluated in clinical studies for indications that include spinal cord injury, neuropathic conditions and neurodegenerative disease settings.