Short Interest in Rexahn Pharmaceuticals, Inc. (RNN) Increases By 44.4%
Rexahn Pharmaceuticals, Inc. (NYSE:RNN) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 1,087,401 shares, a growth of 44.4% from the September 15th total of 752,788 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average daily volume of 1,116,332 shares, the days-to-cover ratio is currently 1.0 days.
An institutional investor recently raised its position in Rexahn Pharmaceuticals stock. Vanguard Group Inc. raised its position in shares of Rexahn Pharmaceuticals, Inc. (NYSE:RNN) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,904,097 shares of the company’s stock after buying an additional 49,761 shares during the period. Vanguard Group Inc. owned approximately 2.30% of Rexahn Pharmaceuticals worth $1,232,000 at the end of the most recent reporting period.
RNN has been the topic of several analyst reports. Zacks Investment Research upgraded Rexahn Pharmaceuticals from a “hold” rating to a “buy” rating and set a $0.25 target price on the stock in a research note on Friday, August 12th. FBR & Co reiterated an “outperform” rating and issued a $3.00 target price on shares of Rexahn Pharmaceuticals in a research note on Wednesday, October 5th.
Shares of Rexahn Pharmaceuticals (NYSE:RNN) traded down 2.3333% on Tuesday, hitting $0.2051. The company’s stock had a trading volume of 1,565,130 shares. The company has a 50 day moving average of $0.24 and a 200 day moving average of $0.27. The firm’s market cap is $43.75 million. Rexahn Pharmaceuticals has a 1-year low of $0.20 and a 1-year high of $0.52.
Rexahn Pharmaceuticals (NYSE:RNN) last issued its earnings results on Monday, August 8th. The company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. Equities analysts forecast that Rexahn Pharmaceuticals will post ($0.07) EPS for the current year.
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.
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