Milestone Pharmaceuticals Inc. (NASDAQ:MIST) Sees Significant Growth in Short Interest

Milestone Pharmaceuticals Inc. (NASDAQ:MIST) saw a significant growth in short interest during the month of April. As of April 15th, there was short interest totaling 10,325,577 shares, a growth of 22.1% from the March 31st total of 8,453,485 shares. Based on an average daily trading volume, of 3,686,839 shares, the short-interest ratio is presently 2.8 days. Approximately 10.9% of the company’s stock are short sold.

Insider Activity

In other news, CEO Joseph Oliveto sold 36,500 shares of the company’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $2.26, for a total transaction of $82,490.00. Following the completion of the sale, the chief executive officer owned 446,244 shares in the company, valued at approximately $1,008,511.44. This represents a 7.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 19.50% of the company’s stock.

Hedge Funds Weigh In On Milestone Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in MIST. Strategic Family Wealth Counselors L.L.C. bought a new stake in shares of Milestone Pharmaceuticals in the 4th quarter worth approximately $25,000. Eaton Financial Holdings Company LLC bought a new stake in shares of Milestone Pharmaceuticals during the fourth quarter valued at approximately $26,000. Bank of America Corp DE increased its position in shares of Milestone Pharmaceuticals by 200,550.0% during the third quarter. Bank of America Corp DE now owns 16,052 shares of the company’s stock valued at $32,000 after purchasing an additional 16,044 shares during the period. Stephenson & Company Inc. bought a new stake in shares of Milestone Pharmaceuticals during the third quarter valued at approximately $40,000. Finally, Cetera Investment Advisers bought a new stake in shares of Milestone Pharmaceuticals during the fourth quarter valued at approximately $42,000. 86.18% of the stock is currently owned by institutional investors.

Milestone Pharmaceuticals Stock Performance

NASDAQ:MIST traded up $0.07 during trading hours on Friday, hitting $1.87. 713,702 shares of the company traded hands, compared to its average volume of 2,335,406. The company has a current ratio of 8.01, a quick ratio of 7.96 and a debt-to-equity ratio of 1.37. Milestone Pharmaceuticals has a twelve month low of $1.00 and a twelve month high of $3.06. The firm has a 50-day moving average of $1.68 and a 200 day moving average of $1.94. The stock has a market capitalization of $220.04 million, a price-to-earnings ratio of -2.37 and a beta of 1.04.

Milestone Pharmaceuticals (NASDAQ:MIST) last posted its quarterly earnings results on Friday, March 20th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.02. The company had revenue of $1.44 million during the quarter, compared to analyst estimates of $37.52 million. On average, analysts forecast that Milestone Pharmaceuticals will post -0.47 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MIST shares. Wall Street Zen lowered Milestone Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. HC Wainwright reissued a “buy” rating and issued a $8.00 price target on shares of Milestone Pharmaceuticals in a research report on Tuesday, January 6th. Zacks Research cut shares of Milestone Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Finally, Raymond James Financial started coverage on shares of Milestone Pharmaceuticals in a report on Friday, April 10th. They set a “strong-buy” rating and a $6.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.

Milestone Pharmaceuticals Company Profile

Milestone Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing innovative therapies for respiratory diseases. The company’s research emphasizes both biologic and small-molecule approaches designed to improve mucociliary clearance, reduce airway inflammation and address chronic and refractory cough. Milestone’s pipeline targets key underserved conditions such as cystic fibrosis, primary ciliary dyskinesia and severe asthma.

Milestone’s lead product candidates are delivered through inhalation or systemic administration, reflecting the company’s commitment to optimizing therapeutic delivery directly to the lungs.