OHR Pharmaceutical Inc (NASDAQ:OHRP) saw a large increase in short interest in the month of January. As of January 12th, there was short interest totalling 3,075,035 shares, an increase of 47.8% from the December 29th total of 2,080,161 shares. Approximately 5.7% of the shares of the company are short sold. Based on an average daily trading volume, of 7,535,665 shares, the short-interest ratio is currently 0.4 days.
Several institutional investors and hedge funds have recently added to or reduced their stakes in OHRP. Wedbush Securities Inc. bought a new stake in shares of OHR Pharmaceutical during the third quarter valued at approximately $311,000. Garrison Bradford & Associates Inc. increased its position in shares of OHR Pharmaceutical by 482.4% during the third quarter. Garrison Bradford & Associates Inc. now owns 497,415 shares of the biotechnology company’s stock valued at $358,000 after purchasing an additional 412,000 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of OHR Pharmaceutical by 0.7% during the second quarter. Vanguard Group Inc. now owns 812,418 shares of the biotechnology company’s stock valued at $520,000 after purchasing an additional 5,481 shares during the period. Institutional investors and hedge funds own 8.24% of the company’s stock.
Shares of OHR Pharmaceutical (NASDAQ:OHRP) opened at $0.32 on Wednesday. The stock has a market capitalization of $18.20, a P/E ratio of -0.54 and a beta of 0.48. OHR Pharmaceutical has a 1 year low of $0.31 and a 1 year high of $2.18.
Several research analysts have commented on OHRP shares. Zacks Investment Research downgraded OHR Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Roth Capital started coverage on OHR Pharmaceutical in a research report on Monday, November 27th. They set a “buy” rating and a $7.00 price objective on the stock. Finally, ValuEngine upgraded OHR Pharmaceutical from a “strong sell” rating to a “sell” rating in a research report on Friday, December 1st.
About OHR Pharmaceutical
OHR Pharmaceutical, Inc, a pharmaceutical company, focuses on the development of novel therapeutics and delivery technologies for the treatment of ocular disease. Its lead clinical program is topical Squalamine, a small molecule anti-angiogenic drug, which could provide a non-invasive therapy to enhance vision outcomes.
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