Cerulean Pharma Inc. (CERU) Short Interest Update
Cerulean Pharma Inc. (NASDAQ:CERU) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 914,913 shares, an increase of 70.8% from the October 14th total of 535,820 shares. Approximately 5.4% of the shares of the stock are short sold. Based on an average trading volume of 1,865,343 shares, the days-to-cover ratio is currently 0.5 days.
An institutional investor recently raised its position in Cerulean Pharma stock. Bridgeway Capital Management Inc. increased its position in Cerulean Pharma Inc. (NASDAQ:CERU) by 97.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 202,623 shares of the company’s stock after buying an additional 100,000 shares during the period. Bridgeway Capital Management Inc. owned approximately 0.74% of Cerulean Pharma worth $430,000 at the end of the most recent reporting period. Institutional investors own 33.13% of the company’s stock.
Cerulean Pharma (NASDAQ:CERU) opened at 0.83 on Friday. The firm’s market cap is $22.73 million. The company’s 50-day moving average is $0.86 and its 200-day moving average is $1.83. Cerulean Pharma has a one year low of $0.63 and a one year high of $4.33.
A number of equities research analysts have commented on CERU shares. Leerink Swann reissued a “market perform” rating and set a $1.50 price objective on shares of Cerulean Pharma in a report on Wednesday, October 19th. Zacks Investment Research upgraded shares of Cerulean Pharma from a “hold” rating to a “buy” rating and set a $1.00 price target for the company in a research report on Wednesday, October 5th. Barclays PLC lowered their price target on shares of Cerulean Pharma from $5.00 to $2.00 and set an “overweight” rating for the company in a research report on Tuesday, August 30th. Janney Montgomery Scott cut shares of Cerulean Pharma from a “buy” rating to a “neutral” rating in a research report on Thursday, August 18th. Finally, Roth Capital reiterated a “buy” rating and set a $2.50 price target on shares of Cerulean Pharma in a research report on Sunday, October 23rd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Cerulean Pharma currently has a consensus rating of “Buy” and a consensus price target of $6.19.
Cerulean Pharma Company Profile
Cerulean Pharma Inc is a clinical-stage, oncology-focused company. The Company applies its Dynamic Tumor Targeting platform to develop differentiated therapies. Its platform utilizes nanoparticle-drug conjugates (NDCs), which consist of polymers that are covalently linked to anti-cancer therapeutics or payloads.
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