Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX) Shares Shorted: Short Interest Down 93.2% in September

by · The Markets Daily

Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX – Get Free Report) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 18,380 shares, a decline of 93.2% from the September 15th total of 271,866 shares. Based on an average daily trading volume, of 722,370 shares, the short-interest ratio is currently 0.0 days. Currently, 1.8% of the company’s shares are sold short.

Biodexa Pharmaceuticals Trading Down 12.1%

Shares of NASDAQ BDRX traded down $0.06 during mid-day trading on Friday, reaching $0.46. 156,849 shares of the company’s stock were exchanged, compared to its average volume of 10,621,782. Biodexa Pharmaceuticals has a twelve month low of $0.45 and a twelve month high of $52.05. The business has a fifty day simple moving average of $1.00 and a 200 day simple moving average of $2.35.

Biodexa Pharmaceuticals’s stock is set to reverse split before the market opens on Monday, October 26th. The 1-8 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, October 25th.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Biodexa Pharmaceuticals from a “sell (e+)” rating to a “sell (e)” rating in a research note on Monday, September 28th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

View Our Latest Stock Analysis on BDRX

Institutional Trading of Biodexa Pharmaceuticals

An institutional investor recently bought a new position in Biodexa Pharmaceuticals stock. Sabby Management LLC purchased a new stake in Biodexa Pharmaceuticals PLC Unsponsored ADR (NASDAQ:BDRX – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 190,658 shares of the company’s stock, valued at approximately $433,000. Biodexa Pharmaceuticals makes up about 0.6% of Sabby Management LLC’s holdings, making the stock its 10th biggest position. Sabby Management LLC owned about 28.04% of Biodexa Pharmaceuticals at the end of the most recent reporting period. Institutional investors and hedge funds own 17.51% of the company’s stock.

Biodexa Pharmaceuticals Company Profile

(Get Free Report)

Biodexa Pharmaceuticals plc, formerly known as Midatech Pharma plc, is a biopharmaceutical company focused on developing medicines for diseases with significant unmet medical needs. The company’s work has centered on oncology, rare diseases and conditions that are difficult to treat with conventional drug-delivery methods.

Biodexa’s development programs have included MTX110, a proprietary aqueous formulation of panobinostat being investigated for direct administration into brain tumors, including diffuse intrinsic pontine glioma.

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