NervGen Pharma (NASDAQ:NGEN) Short Interest Update

NervGen Pharma (NASDAQ:NGEN) was the recipient of a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 3,085,310 shares, a growth of 97.4% from the May 14th total of 1,563,015 shares. Based on an average trading volume of 2,424,478 shares, the short-interest ratio is presently 1.3 days. Currently, 3.8% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of research firms have commented on NGEN. HC Wainwright raised shares of NervGen Pharma to a “strong-buy” rating in a report on Tuesday, April 28th. Zacks Research raised shares of NervGen Pharma to a “hold” rating in a report on Wednesday, April 29th. Wall Street Zen raised shares of NervGen Pharma from a “sell” rating to a “hold” rating in a report on Friday, May 29th. Stifel Nicolaus raised shares of NervGen Pharma to a “strong-buy” rating in a report on Thursday, April 23rd. Finally, Weiss Ratings started coverage on shares of NervGen Pharma in a report on Friday, April 24th. They issued a “sell (d-)” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

NervGen Pharma Price Performance

Shares of NGEN stock traded up $0.03 on Friday, hitting $1.92. The stock had a trading volume of 677,012 shares, compared to its average volume of 422,759. NervGen Pharma has a twelve month low of $1.70 and a twelve month high of $6.30.

NervGen Pharma (NASDAQ:NGEN) last posted its quarterly earnings data on Friday, May 15th. The company reported $999.00 EPS for the quarter, beating the consensus estimate of ($0.07) by $999.07.

About NervGen Pharma

NervGen Pharma Corp. is a clinical-stage biotechnology company focused on developing therapies to promote nerve repair and restore neurological function following injury or disease. The company advances regenerative approaches intended to address damage in the central and peripheral nervous systems, pursuing programs that aim to translate preclinical repair concepts into human treatments.

The company’s lead investigational candidate is NVG-291, which is being evaluated in clinical studies for indications that include spinal cord injury, neuropathic conditions and neurodegenerative disease settings.