Panbela Therapeutics, Inc. (NASDAQ:PBLA) Short Interest Down 59.9% in May

Panbela Therapeutics, Inc. (NASDAQ:PBLA – Get Rating) was the target of a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 754,400 shares, a decline of 59.9% from the April 30th total of 1,880,000 shares. Based on an average daily volume of 2,840,000 shares, the days-to-cover ratio is currently 0.3 days.

Panbela Therapeutics Trading Down 6.6 %

Shares of NASDAQ:PBLA traded down $0.02 on Friday, hitting $0.34. 682,261 shares of the company’s stock were exchanged, compared to its average volume of 2,661,840. Panbela Therapeutics has a 12 month low of $0.32 and a 12 month high of $64.40. The stock has a market capitalization of $5.64 million, a price-to-earnings ratio of 0.00 and a beta of 2.03. The business’s 50 day simple moving average is $0.45 and its two-hundred day simple moving average is $0.68. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.80 and a quick ratio of 0.80.

Panbela Therapeutics (NASDAQ:PBLA – Get Rating) last released its quarterly earnings data on Thursday, March 16th. The company reported ($5.68) earnings per share for the quarter. Analysts anticipate that Panbela Therapeutics will post -1.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on PBLA shares. Roth Capital began coverage on shares of Panbela Therapeutics in a research note on Tuesday, January 31st. They issued a “buy” rating and a $10.00 target price on the stock. Maxim Group raised shares of Panbela Therapeutics from a “hold” rating to a “buy” rating in a research report on Monday, March 20th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Panbela Therapeutics in a research report on Wednesday, April 26th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Armistice Capital LLC acquired a new stake in Panbela Therapeutics in the 3rd quarter valued at about $588,000. Sabby Management LLC acquired a new stake in Panbela Therapeutics in the 1st quarter valued at about $189,000. CVI Holdings LLC acquired a new stake in Panbela Therapeutics in the 1st quarter valued at about $175,000. Hudson Bay Capital Management LP acquired a new stake in Panbela Therapeutics in the 1st quarter valued at about $157,000. Finally, Altium Capital Management LP acquired a new stake in shares of Panbela Therapeutics during the 1st quarter worth about $148,000. 9.37% of the stock is owned by institutional investors and hedge funds.

About Panbela Therapeutics

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Panbela Therapeutics, Inc engages in the development of disruptive therapeutics for medical purposes. It focuses on development programs that target diseases of the pancreas, including pancreatic cancer and pancreatitis. The firm’s product candidate, SBP-101, is a proprietary polyamine analogue designed to induce polyamine metabolic inhibition (PMI), a metabolic pathway of critical importance in multiple tumor types.