Sophiris Bio Inc. (SPHS) Sees Significant Increase in Short Interest
Sophiris Bio Inc. (NASDAQ:SPHS) saw a significant growth in short interest in September. As of September 15th, there was short interest totalling 1,929,722 shares, a growth of 35.9% from the August 31st total of 1,419,895 shares. Currently, 11.2% of the company’s stock are sold short. Based on an average trading volume of 1,930,398 shares, the days-to-cover ratio is currently 1.0 days.
SPHS has been the subject of several recent research reports. Piper Jaffray Cos. initiated coverage on shares of Sophiris Bio in a research report on Tuesday, August 30th. They issued an “overweight” rating and a $7.00 price objective for the company. Roth Capital started coverage on shares of Sophiris Bio in a research report on Thursday, September 15th. They issued a “buy” rating and a $8.00 price objective for the company. Maxim Group reissued a “buy” rating and set a $4.00 price target on shares of Sophiris Bio in a research report on Friday, June 10th. Finally, Echelon Wealth Partners reissued a “buy” rating and set a $5.00 price target on shares of Sophiris Bio in a research report on Friday, June 10th.
Shares of Sophiris Bio (NASDAQ:SPHS) opened at 3.03 on Wednesday. The stock’s 50 day moving average is $3.39 and its 200-day moving average is $2.52. The firm’s market cap is $68.53 million. Sophiris Bio has a 52-week low of $0.67 and a 52-week high of $8.55.
An institutional investor recently raised its position in Sophiris Bio stock. Citadel Advisors LLC increased its stake in Sophiris Bio Inc. (NASDAQ:SPHS) by 65.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,176 shares of the biopharmaceutical company’s stock after buying an additional 19,402 shares during the period. Citadel Advisors LLC owned about 0.23% of Sophiris Bio worth $106,000 at the end of the most recent quarter. 5.29% of the stock is owned by institutional investors.
About Sophiris Bio
Sophiris Bio, Inc, formerly Protox Therapeutics Inc, is a Canada-based biopharmaceutical company focused on the research, development and commercialization of products for the treatment of urological diseases. The Company has operations based in San Diego developing a treatment for benign prostatic hyperplasia (benign prostatic hyperplasia (BPH) or enlarged prostate).
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