ADARx Pharmaceuticals, Inc. (NASDAQ:ADRX) Sees Large Growth in Short Interest

ADARx Pharmaceuticals, Inc. (NASDAQ:ADRX) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 1,163,375 shares. Based on an average daily volume of 669,771 shares, the short-interest ratio is currently 1.7 days.

ADARx Pharmaceuticals Stock Down 1.5%

Shares of NASDAQ ADRX opened at $17.70 on Wednesday. ADARx Pharmaceuticals has a fifty-two week low of $16.64 and a fifty-two week high of $23.21.

Insiders Place Their Bets

In other news, major shareholder Sr One Capital Management, Llc acquired 1,600,000 shares of the stock in a transaction on Monday, September 28th. The stock was acquired at an average price of $17.00 per share, with a total value of $27,200,000.00. Following the completion of the transaction, the insider owned 5,554,094 shares of the company’s stock, valued at $94,419,598. This represents a 40.46% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Erez Chimovits bought 61,516 shares of the company’s stock in a transaction dated Monday, September 28th. The shares were acquired at an average price of $17.00 per share, for a total transaction of $1,045,772.00. Following the acquisition, the director owned 9,292,025 shares in the company, valued at approximately $157,964,425. This represents a 0.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders bought 3,261,516 shares of company stock worth $55,445,772.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of ADARx Pharmaceuticals to a “hold” rating in a research note on Saturday, October 3rd.

ADARx Pharmaceuticals Company Profile

ADARx Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing RNA-based medicines for immune-mediated and other serious diseases. The company is headquartered in San Diego, California, and uses proprietary technologies designed to modulate disease-related proteins at the RNA level.

ADARx’s pipeline includes investigational therapies intended to address conditions involving the complement system, coagulation pathways and other biologic mechanisms. Its programs are designed to provide targeted, durable treatment through approaches such as RNA interference and related forms of RNA-based therapeutic intervention.

Founded in 2018, ADARx has advanced its drug candidates through preclinical and clinical development and has pursued regulatory and clinical activities in the United States and other international markets.