Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) Sees Large Growth in Short Interest

Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 24,819 shares, an increase of 150.0% from the July 15th total of 9,927 shares. Approximately 1.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 319,914 shares, the days-to-cover ratio is currently 0.1 days.

Biodexa Pharmaceuticals Stock Down 2.6%

NASDAQ BDRX traded down $0.04 during mid-day trading on Friday, reaching $1.52. 10,391 shares of the stock were exchanged, compared to its average volume of 270,487. Biodexa Pharmaceuticals has a 1-year low of $1.02 and a 1-year high of $59.40. The business’s fifty day simple moving average is $2.30 and its 200 day simple moving average is $3.79.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Biodexa Pharmaceuticals from a “sell (e)” rating to a “sell (e+)” rating in a research report on Thursday, June 18th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Biodexa Pharmaceuticals presently has an average rating of “Sell”.

Hedge Funds Weigh In On Biodexa Pharmaceuticals

An institutional investor recently bought a new position in Biodexa Pharmaceuticals stock. Sabby Management LLC purchased a new position in Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 190,658 shares of the company’s stock, valued at approximately $433,000. Biodexa Pharmaceuticals comprises approximately 0.6% of Sabby Management LLC’s holdings, making the stock its 10th largest position. Sabby Management LLC owned 28.04% of Biodexa Pharmaceuticals at the end of the most recent reporting period. Institutional investors own 17.51% of the company’s stock.

Biodexa Pharmaceuticals Company Profile

Biodexa Pharmaceuticals Plc, a clinical stage biopharmaceutical company, focuses on developing a pipeline of products for the treatment of Type 1 diabetes and rare/orphan cancers of the brain. Its lead product candidate Tolimidone, a selective activator of the lyn kinase enzyme, currently under Phase II studies for the treatment of Type 1 diabetes. The company is also developing MTX110, which is currently in Phase I studies for the treatment of diffuse intrinsic recurrent glioblastoma, diffuse midline glioma, and medulloblastoma; and MTD217, a program centered around a water-soluble drug formulation that can be easily infused or injected simultaneously, or sequentially, directly into the cancer microenvironment, currently under preclinical studies for the treatment of leptomeningeal disease.