Universe Pharmaceuticals INC (NASDAQ:UPC) Sees Large Decline in Short Interest

Universe Pharmaceuticals INC (NASDAQ:UPC) was the target of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 6,382 shares, a drop of 58.7% from the July 15th total of 15,446 shares. Based on an average trading volume of 1,046,971 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.3% of the shares of the company are sold short.

Universe Pharmaceuticals Trading Down 3.7%

NASDAQ UPC traded down $0.22 during midday trading on Friday, hitting $5.65. The company had a trading volume of 32,365 shares, compared to its average volume of 2,100,680. The firm has a 50-day moving average price of $4.66 and a 200-day moving average price of $3.60. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.05 and a quick ratio of 3.90. Universe Pharmaceuticals has a twelve month low of $2.00 and a twelve month high of $17.96.

Universe Pharmaceuticals (NASDAQ:UPC) last released its earnings results on Wednesday, July 29th. The company reported ($1.38) earnings per share (EPS) for the quarter. The firm had revenue of $4.52 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Universe Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Universe Pharmaceuticals has an average rating of “Sell”.

About Universe Pharmaceuticals

Universe Pharmaceuticals, Inc is a clinical‐stage biotechnology company focused on the discovery and development of novel therapeutics for ocular diseases. The company’s primary research efforts center on small-molecule compounds designed to address unmet needs in glaucoma, ocular hypertension and post-surgical ocular inflammation. By leveraging targeted enzyme inhibition and proprietary formulation technologies, Universe aims to bring forward topically administered medications that combine efficacy with an improved safety profile versus existing treatments.

The company’s lead candidate, UPC-1001, has been advanced into clinical trials for the treatment of open-angle glaucoma and ocular hypertension, where it seeks to lower intraocular pressure through a unique mechanism of action.