Short Interest in Chiasma Inc (NASDAQ:CHMA) Drops By 10.1%

Chiasma Inc (NASDAQ:CHMA) saw a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 1,600,000 shares, a drop of 10.1% from the January 15th total of 1,780,000 shares. Currently, 5.3% of the shares of the company are short sold. Based on an average daily volume of 275,500 shares, the days-to-cover ratio is presently 5.8 days.

Shares of CHMA traded up $0.02 during mid-day trading on Friday, hitting $4.57. 159,262 shares of the company’s stock were exchanged. Chiasma has a fifty-two week low of $3.70 and a fifty-two week high of $9.25. The business’s 50 day moving average is $4.82 and its two-hundred day moving average is $5.11.

In other Chiasma news, Director Roni Mamluk sold 61,139 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $5.51, for a total transaction of $336,875.89. Following the transaction, the director now owns 61,139 shares of the company’s stock, valued at $336,875.89. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 8.30% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in CHMA. Citigroup Inc. lifted its position in Chiasma by 495.2% in the fourth quarter. Citigroup Inc. now owns 10,113 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 8,414 shares during the period. Alambic Investment Management L.P. acquired a new stake in Chiasma in the fourth quarter valued at about $50,000. Virtu Financial LLC acquired a new stake in Chiasma in the fourth quarter valued at about $51,000. Meeder Asset Management Inc. acquired a new stake in Chiasma in the third quarter valued at about $53,000. Finally, Voya Investment Management LLC lifted its position in Chiasma by 20.3% in the third quarter. Voya Investment Management LLC now owns 12,713 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 2,149 shares during the period. Institutional investors and hedge funds own 74.51% of the company’s stock.

CHMA has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price objective on shares of Chiasma in a report on Thursday, November 7th. Piper Sandler raised their price objective on Chiasma from to and gave the stock an “overweight” rating in a report on Tuesday, January 14th. Finally, ValuEngine raised Chiasma from a “sell” rating to a “hold” rating in a report on Saturday, January 4th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $12.42.

About Chiasma

Chiasma, Inc, a clinical-stage biopharmaceutical company, focuses on developing oral medications using transient permeability enhancer technology platform for the treatment of rare and serious chronic disease in the United States, Europe, and internationally. The company offers oral octreotide capsules for adult patients under the MYCAPSSA name, which is in two Phase III clinical trials for the treatment of acromegaly, a condition that results in the body's production of excess growth hormone.

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