Femasys Inc. (NASDAQ:FEMY) Stock Short Interest Drops 71.6%

Femasys Inc. (NASDAQ:FEMY) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 164,106 shares, a drop of 71.6% from the September 30th total of 577,249 shares. Based on an average trading volume of 108,262 shares, the days-to-cover ratio is presently 1.5 days. Currently, 2.1% of the company’s shares are sold short.

Femasys Stock Performance

FEMY traded down $0.06 during trading hours on Thursday, reaching $1.35. 110,312 shares of the stock traded hands, compared to its average volume of 109,564. The firm’s fifty day simple moving average is $2.34 and its two-hundred day simple moving average is $6.29. Femasys has a fifty-two week low of $1.30 and a fifty-two week high of $22.20. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.14 and a quick ratio of 0.55.

Femasys (NASDAQ:FEMY) last issued its quarterly earnings data on Friday, August 14th. The company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.31) by ($0.02). The firm had revenue of $0.33 million during the quarter, compared to analyst estimates of $0.73 million. Femasys had a negative return on equity of 225.97% and a negative net margin of 534.36%.

Wall Street Analyst Weigh In

FEMY has been the topic of a number of recent research reports. Maxim Group reduced their price objective on Femasys to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Lake Street Capital lowered their target price on Femasys to $10.00 and set a “buy” rating for the company in a research note on Tuesday, August 18th. Weiss Ratings downgraded Femasys from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, August 17th. Finally, Wall Street Zen raised Femasys from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 17th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $50.00.

Insider Buying and Selling

In other Femasys news, CEO Kathy Lee-Sepsick purchased 15,625 shares of the stock in a transaction on Friday, August 7th. The stock was bought at an average price of $3.20 per share, for a total transaction of $50,000.00. Following the acquisition, the chief executive officer directly owned 15,625 shares of the company’s stock, valued at $50,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Dov Elefant purchased 15,625 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were bought at an average cost of $3.20 per share, with a total value of $50,000.00. Following the transaction, the chief financial officer directly owned 15,625 shares of the company’s stock, valued at $50,000. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 38,750 shares of company stock worth $124,000. 7.75% of the stock is owned by company insiders.

About Femasys

Femasys Inc is a biotechnology and medical device company focused on developing and commercializing products for women’s health. The company’s portfolio is centered on solutions for permanent birth control, fertility evaluation and treatment, and related gynecological procedures.

Femasys’ products include FemVue, a device used with saline and air to assess fallopian tube patency during fertility evaluations. The company is also developing FemBloc, a non-surgical, investigational permanent birth control system designed for placement through the fallopian tubes.