PMGC Holdings Inc. (NASDAQ:ELAB) Short Interest Down 39.6% in August

PMGC Holdings Inc. (NASDAQ:ELAB) saw a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 265,900 shares, a decrease of 39.6% from the July 30th total of 440,372 shares. Based on an average daily volume of 216,457 shares, the days-to-cover ratio is currently 1.2 days. Approximately 32.8% of the company’s stock are sold short.

PMGC Stock Up 2.0%

Shares of PMGC stock traded up $0.10 during trading on Wednesday, hitting $5.13. 63,055 shares of the stock were exchanged, compared to its average volume of 396,270. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.36 and a quick ratio of 1.30. The firm’s 50-day moving average price is $9.44 and its 200 day moving average price is $27.28. The stock has a market cap of $4.16 million, a price-to-earnings ratio of -0.00 and a beta of -0.25. PMGC has a 12-month low of $4.97 and a 12-month high of $2,671.20.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of PMGC in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in PMGC stock. Citadel Advisors LLC acquired a new stake in PMGC Holdings Inc. (NASDAQ:ELAB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 20,702 shares of the company’s stock, valued at approximately $25,000. Citadel Advisors LLC owned about 2.56% of PMGC as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 22.22% of the company’s stock.

About PMGC

Elevai Labs, Inc, a skincare development company, designs, manufactures, and markets skincare products. Its products include Empower and Enfinity post-skincare procedure care serums for the face, neck, and upper chest regions. The company was formerly known as Reactive Medical Labs Inc and changed its name to Elevai Labs, Inc in December 2021. Elevai Labs, Inc was incorporated in 2020 and is based in Newport Beach, California.