ADARx Pharmaceuticals, Inc. (NASDAQ:ADRX) Sees Large Growth in Short Interest

ADARx Pharmaceuticals, Inc. (NASDAQ:ADRX) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 1,903,521 shares, an increase of 63.6% from the September 30th total of 1,163,375 shares. Currently, 1.8% of the shares of the company are short sold. Based on an average daily volume of 611,710 shares, the short-interest ratio is presently 3.1 days.

ADARx Pharmaceuticals Stock Up 2.1%

ADARx Pharmaceuticals stock opened at $16.09 on Wednesday. ADARx Pharmaceuticals has a one year low of $15.00 and a one year high of $23.21.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ADRX. Wall Street Zen upgraded shares of ADARx Pharmaceuticals to a “hold” rating in a research note on Saturday, October 3rd. JPMorgan Chase & Co. began coverage on shares of ADARx Pharmaceuticals in a research report on Tuesday, October 20th. They set an “overweight” rating and a $38.00 price target on the stock. UBS Group initiated coverage on shares of ADARx Pharmaceuticals in a research note on Tuesday, October 20th. They issued a “buy” rating and a $35.00 price objective for the company. Morgan Stanley started coverage on shares of ADARx Pharmaceuticals in a report on Tuesday, October 20th. They issued an “overweight” rating and a $32.00 price objective for the company. Finally, Zacks Research upgraded shares of ADARx Pharmaceuticals to a “hold” rating in a research report on Wednesday, October 21st. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Insider Buying and Selling

In other news, major shareholder Sr One Capital Management, Llc purchased 1,600,000 shares of the company’s stock in a transaction that occurred on Monday, September 28th. The stock was acquired at an average cost of $17.00 per share, with a total value of $27,200,000.00. Following the acquisition, the insider owned 5,554,094 shares in the company, valued at approximately $94,419,598. This trade represents a 40.46% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Simeon George purchased 1,600,000 shares of ADARx Pharmaceuticals stock in a transaction that occurred on Monday, September 28th. The stock was purchased at an average price of $17.00 per share, with a total value of $27,200,000.00. Following the completion of the purchase, the director directly owned 5,554,094 shares in the company, valued at $94,419,598. This trade represents a 40.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 3,261,516 shares of company stock valued at $55,445,772.

About ADARx Pharmaceuticals

ADARx Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that target disease-driving proteins through RNA-based technologies. The company’s platform is designed to support potent and durable control of protein production, with the goal of creating therapies that may be administered less frequently than conventional treatments.

ADARx is advancing a pipeline of investigational therapeutics for conditions involving the kallikrein-kinin and complement pathways, which are implicated in hereditary angioedema and other immune-mediated or inflammatory diseases.