Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) Sees Significant Growth in Short Interest

Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) was the target of a large increase in short interest in February. As of February 27th, there was short interest totaling 1,979,996 shares, an increase of 19.4% from the February 12th total of 1,658,534 shares. Approximately 5.5% of the shares of the stock are sold short. Based on an average daily volume of 340,549 shares, the days-to-cover ratio is presently 5.8 days. Based on an average daily volume of 340,549 shares, the days-to-cover ratio is presently 5.8 days. Approximately 5.5% of the shares of the stock are sold short.

Hedge Funds Weigh In On Eupraxia Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vivo Capital LLC bought a new stake in Eupraxia Pharmaceuticals in the third quarter worth $7,965,000. Ally Bridge Group NY LLC purchased a new position in Eupraxia Pharmaceuticals during the third quarter worth $5,398,000. Ikarian Capital LLC bought a new position in Eupraxia Pharmaceuticals during the fourth quarter valued at $4,606,000. Squadron Capital Management LLC bought a new position in Eupraxia Pharmaceuticals during the fourth quarter valued at $3,775,000. Finally, Velan Capital Investment Management LP purchased a new stake in shares of Eupraxia Pharmaceuticals in the third quarter valued at $2,077,000.

Eupraxia Pharmaceuticals Trading Up 2.6%

Shares of NASDAQ:EPRX traded up $0.19 during trading on Tuesday, reaching $7.58. The company’s stock had a trading volume of 438,019 shares, compared to its average volume of 234,394. Eupraxia Pharmaceuticals has a 12 month low of $2.68 and a 12 month high of $9.32. The firm’s 50 day simple moving average is $8.29 and its two-hundred day simple moving average is $6.85. The stock has a market capitalization of $272.58 million, a PE ratio of -7.36 and a beta of 1.27.

Eupraxia Pharmaceuticals (NASDAQ:EPRX) last released its quarterly earnings results on Thursday, March 19th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.21). Research analysts anticipate that Eupraxia Pharmaceuticals will post -0.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on EPRX shares. Cantor Fitzgerald raised their price objective on Eupraxia Pharmaceuticals from $11.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. Wall Street Zen downgraded Eupraxia Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. HC Wainwright dropped their price target on Eupraxia Pharmaceuticals from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a report on Thursday, January 22nd. Finally, Lifesci Capital raised Eupraxia Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $15.00.

About Eupraxia Pharmaceuticals

Eupraxia Pharmaceuticals, Inc (NASDAQ: EPRX) is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for autoimmune and inflammatory diseases. The company’s core strategy centers on selectively expanding regulatory T cells (Tregs)—immune cells responsible for maintaining self-tolerance and limiting pathological inflammation—through its proprietary platform. Its lead therapeutic candidate is currently in Phase 1 clinical development in patients with systemic lupus erythematosus.

Based in Seattle, Washington, Eupraxia Pharmaceuticals conducts research and development activities across North America, collaborating with academic institutions and contract research organizations to advance its pipeline.