Marina Biotech, Inc. (MRNA) Sees Large Increase in Short Interest

Marina Biotech, Inc. (OTCMKTS:MRNA) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 6,480,950 shares, an increase of 71.3% from the December 14th total of 3,782,739 shares. Based on an average trading volume of 1,474,909 shares, the short-interest ratio is presently 4.4 days. Currently, 2.8% of the shares of the company are sold short.

MRNA has been the topic of several research analyst reports. JPMorgan Chase & Co. reissued a “buy” rating on shares of Marina Biotech in a report on Thursday. Oppenheimer initiated coverage on Marina Biotech in a report on Wednesday, January 2nd. They issued an “outperform” rating and a $27.00 price objective on the stock. Bank of America initiated coverage on Marina Biotech in a report on Wednesday, January 2nd. They issued a “buy” rating and a $20.00 price objective on the stock. Piper Jaffray Companies initiated coverage on Marina Biotech in a report on Wednesday, January 2nd. They issued an “overweight” rating and a $24.00 price objective on the stock. Finally, Needham & Company LLC initiated coverage on Marina Biotech in a report on Wednesday, January 2nd. They issued a “buy” rating and a $28.00 price objective on the stock. Eight analysts have rated the stock with a buy rating, Marina Biotech presently has a consensus rating of “Buy” and an average target price of $24.38.

OTCMKTS MRNA opened at $17.00 on Friday. Marina Biotech has a 1-year low of $13.03 and a 1-year high of $22.75.

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About Marina Biotech

Marina Biotech, Inc, a biopharmaceutical company, engages in the development and commercialization of proprietary drug therapeutics primarily for hypertension, arthritis, pain, and oncology in the United States, Europe, and internationally. The company offers Prestalia, a single-pill fixed dose combination (FDC) of perindopril argenine, an angiotensin-converting-enzyme inhibitor; and amlodipine besylate, a calcium channel blocker for the treatment of hypertension.

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