Rexahn Pharmaceuticals, Inc. (RNN) Sees Large Increase in Short Interest
Rexahn Pharmaceuticals, Inc. (NYSE:RNN) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 1,994,218 shares, an increase of 38.6% from the October 14th total of 1,439,096 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average daily trading volume, of 984,800 shares, the short-interest ratio is presently 2.0 days.
Several analysts have recently commented on RNN shares. Zacks Investment Research upgraded Rexahn Pharmaceuticals from a “hold” rating to a “buy” rating and set a $0.25 target price for the company in a research note on Friday, August 12th. FBR & Co restated 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) opened at 0.168 on Friday. Rexahn Pharmaceuticals has a 52 week low of $0.14 and a 52 week high of $0.48. The firm’s market capitalization is $35.84 million. The stock has a 50 day moving average price of $0.18 and a 200 day moving average price of $0.25.
An institutional investor recently raised its position in Rexahn Pharmaceuticals stock. Vanguard Group Inc. boosted its stake 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 firm 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.
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 & Stock Ratings for Rexahn Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexahn Pharmaceuticals Inc. and related stocks with our FREE daily email newsletter.