Rexahn Pharmaceuticals, Inc. (NYSEAMERICAN:RNN) was the target of a large decline in short interest in the month of January. As of January 12th, there was short interest totalling 1,356,967 shares, a decline of 19.2% from the December 29th total of 1,679,492 shares. Based on an average daily volume of 264,650 shares, the short-interest ratio is currently 5.1 days. Currently, 4.4% of the shares of the company are short sold.
A number of institutional investors have recently modified their holdings of RNN. Susquehanna International Group LLP bought a new position in Rexahn Pharmaceuticals in the 2nd quarter worth $2,905,000. Sabby Management LLC bought a new position in Rexahn Pharmaceuticals in the 2nd quarter worth $706,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Rexahn Pharmaceuticals in the 3rd quarter worth $119,000.
Shares of Rexahn Pharmaceuticals (NYSEAMERICAN RNN) opened at $2.29 on Friday. Rexahn Pharmaceuticals has a 1 year low of $0.38 and a 1 year high of $7.10. The stock has a market cap of $71.83, a price-to-earnings ratio of -2.46 and a beta of -0.66.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Rexahn Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 price objective for the company in a research report on Friday, November 10th. ValuEngine raised shares of Rexahn Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 2nd. HC Wainwright reissued a “buy” rating and set a $19.50 price objective on shares of Rexahn Pharmaceuticals in a research report on Monday, January 22nd. Finally, Seaport Global Securities reissued a “buy” rating and set a $13.00 price objective on shares of Rexahn Pharmaceuticals in a research report on Friday, October 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $13.65.
TRADEMARK VIOLATION WARNING: This story was first posted by BBNS and is the sole property of of BBNS. If you are reading this story on another site, it was stolen and reposted in violation of United States and international trademark & copyright law. The original version of this story can be viewed at https://baseballnewssource.com/markets/rexahn-pharmaceuticals-inc-rnn-sees-large-decrease-in-short-interest/1871797.html.
Rexahn Pharmaceuticals Company Profile
Rexahn Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company engaged in the discovery, development and commercialization of treatments for cancer. The Company’s clinical-stage drug candidates in active development include Archexin, RX-3117 and Supinoxin (RX-5902). Archexin is a potent inhibitor of the protein kinase Akt-1, which focuses on cancer cell proliferation, survival, angiogenesis, metastasis and drug resistance.
Receive News & Ratings for Rexahn Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexahn Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.