Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) Short Interest Update

Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) saw a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 12,677 shares, a drop of 70.1% from the February 26th total of 42,416 shares. Based on an average trading volume of 71,894 shares, the days-to-cover ratio is currently 0.2 days. Currently, 1.9% of the company’s shares are sold short. Currently, 1.9% of the company’s shares are sold short. Based on an average trading volume of 71,894 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BDRX. Wall Street Zen upgraded shares of Biodexa Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday. Weiss Ratings reissued a “sell (e+)” rating on shares of Biodexa Pharmaceuticals in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Biodexa Pharmaceuticals Stock Performance

Shares of NASDAQ BDRX opened at $0.66 on Wednesday. The stock’s 50-day moving average is $1.34 and its two-hundred day moving average is $3.99. Biodexa Pharmaceuticals has a 1-year low of $0.65 and a 1-year high of $19.30.

Biodexa Pharmaceuticals’s stock is scheduled to reverse split on the morning of Monday, April 6th. The 1-5 reverse split was announced on Wednesday, March 18th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, April 3rd.

Institutional Trading of Biodexa Pharmaceuticals

A hedge fund recently bought a new stake in Biodexa Pharmaceuticals stock. Armistice Capital LLC bought a new stake in Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 100,000 shares of the company’s stock, valued at approximately $227,000. Armistice Capital LLC owned approximately 14.71% of Biodexa Pharmaceuticals as of its most recent SEC filing. 17.51% of the stock is currently owned by institutional investors.

Biodexa Pharmaceuticals Company Profile

Biodexa Pharmaceuticals Plc, a clinical stage biopharmaceutical company, focuses on developing a pipeline of products for the treatment of Type 1 diabetes and rare/orphan cancers of the brain. Its lead product candidate Tolimidone, a selective activator of the lyn kinase enzyme, currently under Phase II studies for the treatment of Type 1 diabetes. The company is also developing MTX110, which is currently in Phase I studies for the treatment of diffuse intrinsic recurrent glioblastoma, diffuse midline glioma, and medulloblastoma; and MTD217, a program centered around a water-soluble drug formulation that can be easily infused or injected simultaneously, or sequentially, directly into the cancer microenvironment, currently under preclinical studies for the treatment of leptomeningeal disease.