Threshold Pharmaceuticals Inc. (THLD) Sees Large Growth in Short Interest
Threshold Pharmaceuticals Inc. (NASDAQ:THLD) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 1,393,470 shares, an increase of 36.2% from the October 14th total of 1,023,387 shares. Currently, 2.1% of the company’s shares are sold short. Based on an average daily volume of 657,042 shares, the days-to-cover ratio is presently 2.1 days.
Several equities analysts have recently weighed in on THLD shares. William Blair reissued an “outperform” rating on shares of Threshold Pharmaceuticals in a research report on Monday, October 3rd. S&P Equity Research cut their target price on Threshold Pharmaceuticals from $0.67 to $0.52 in a research report on Friday, September 30th.
A number of institutional investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. increased its position in shares of Threshold Pharmaceuticals by 16.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 3,500,000 shares of the biotechnology company’s stock worth $1,610,000 after buying an additional 500,000 shares during the last quarter. Oxford Asset Management increased its position in shares of Threshold Pharmaceuticals by 746.7% in the second quarter. Oxford Asset Management now owns 202,522 shares of the biotechnology company’s stock worth $129,000 after buying an additional 178,602 shares during the last quarter. First Eagle Investment Management LLC bought a new position in shares of Threshold Pharmaceuticals during the second quarter worth approximately $2,033,000. Deerfield Management Co. bought a new position in shares of Threshold Pharmaceuticals during the second quarter worth approximately $1,641,000. Finally, Paloma Partners Management Co bought a new position in shares of Threshold Pharmaceuticals during the second quarter worth approximately $152,000. Hedge funds and other institutional investors own 28.16% of the company’s stock.
Threshold Pharmaceuticals (NASDAQ:THLD) opened at 0.5292 on Friday. The stock’s 50 day moving average price is $0.56 and its 200 day moving average price is $0.62. Threshold Pharmaceuticals has a 52-week low of $0.21 and a 52-week high of $4.26. The company has a market cap of $37.84 million, a P/E ratio of 0.8939 and a beta of 4.78.
Threshold Pharmaceuticals (NASDAQ:THLD) last announced its quarterly earnings data on Monday, November 7th. The biotechnology company reported ($0.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.01. Analysts expect that Threshold Pharmaceuticals will post ($0.37) earnings per share for the current year.
About Threshold Pharmaceuticals
Threshold Pharmaceuticals, Inc is a clinical-stage biotechnology company. The Company is engaged in the discovery and development of therapeutic and diagnostic agents that selectively target tumor cells for the treatment of patients living with cancer. It is developing two therapeutic product candidates based on hypoxia-activated prodrug technology: evofosfamide and tarloxotinib.
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