ADARx Pharmaceuticals, Inc. (NASDAQ:ADRX) Stock Short Interest Report for September

ADARx Pharmaceuticals, Inc. (NASDAQ:ADRX) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 1,163,375 shares. Based on an average trading volume of 669,771 shares, the short-interest ratio is presently 1.7 days.

Insider Buying and Selling at ADARx Pharmaceuticals

In related news, Director Erez Chimovits purchased 61,516 shares of ADARx Pharmaceuticals stock in a transaction dated Monday, September 28th. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $1,045,772.00. Following the transaction, the director directly owned 9,292,025 shares of the company’s stock, valued at approximately $157,964,425. This trade represents a 0.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Sr One Capital Management, Llc acquired 1,600,000 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The shares were bought at an average cost of $17.00 per share, with a total value of $27,200,000.00. Following the completion of the purchase, the insider owned 5,554,094 shares of the company’s stock, valued at $94,419,598. This trade represents a 40.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 3,261,516 shares of company stock worth $55,445,772.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised ADARx Pharmaceuticals to a “hold” rating in a research note on Saturday, October 3rd.

ADARx Pharmaceuticals Trading Down 0.7%

Shares of NASDAQ:ADRX opened at $17.70 on Friday. ADARx Pharmaceuticals has a 52 week low of $16.64 and a 52 week high of $23.21.

About ADARx Pharmaceuticals

ADARx Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing RNA-based medicines for immune-mediated and other serious diseases. The company is headquartered in San Diego, California, and uses proprietary technologies designed to modulate disease-related proteins at the RNA level.

ADARx’s pipeline includes investigational therapies intended to address conditions involving the complement system, coagulation pathways and other biologic mechanisms. Its programs are designed to provide targeted, durable treatment through approaches such as RNA interference and related forms of RNA-based therapeutic intervention.

Founded in 2018, ADARx has advanced its drug candidates through preclinical and clinical development and has pursued regulatory and clinical activities in the United States and other international markets.