Short Interest in Rexahn Pharmaceuticals, Inc. (RNN) Grows By 28.0%
Rexahn Pharmaceuticals, Inc. (NYSEAMERICAN:RNN) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 2,106,770 shares, a growth of 28.0% from the October 13th total of 1,645,486 shares. Currently, 6.8% of the company’s stock are sold short. Based on an average daily volume of 673,912 shares, the short-interest ratio is presently 3.1 days.
Rexahn Pharmaceuticals (NYSEAMERICAN RNN) opened at $2.12 on Thursday. Rexahn Pharmaceuticals has a 12-month low of $1.30 and a 12-month high of $7.10.
RNN has been the topic of several research analyst reports. HC Wainwright set a $20.00 price target on shares of Rexahn Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, September 11th. Seaport Global Securities reaffirmed a “buy” rating and set a $13.00 price target on shares of Rexahn Pharmaceuticals in a research report on Friday, October 6th. ValuEngine raised shares of Rexahn Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 2nd. Zacks Investment Research raised shares of Rexahn Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.75 price target on the stock in a research report on Wednesday, October 4th. Finally, Ifs Securities reaffirmed an “outperform” rating on shares of Rexahn Pharmaceuticals in a research report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $13.65.
Hedge funds and other institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Rexahn Pharmaceuticals in the third quarter worth about $119,000. Sabby Management LLC bought a new position in Rexahn Pharmaceuticals in the second quarter worth about $706,000. Susquehanna International Group LLP bought a new position in Rexahn Pharmaceuticals in the second quarter worth about $2,905,000. Finally, Renaissance Technologies LLC lifted its holdings in Rexahn Pharmaceuticals by 17.6% in the first quarter. Renaissance Technologies LLC now owns 5,758,391 shares of the company’s stock worth $2,937,000 after acquiring an additional 862,000 shares during the last quarter.
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About Rexahn Pharmaceuticals
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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