Impel Pharmaceuticals Inc. (NASDAQ:IMPL) Short Interest Down 12.7% in August

Impel Pharmaceuticals Inc. (NASDAQ:IMPL) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 505,100 shares, a decrease of 12.7% from the August 15th total of 578,800 shares. Approximately 6.5% of the company’s stock are short sold. Based on an average daily trading volume, of 875,100 shares, the days-to-cover ratio is presently 0.6 days.

Impel Pharmaceuticals Price Performance

IMPL stock traded down $0.06 during trading on Tuesday, hitting $0.58. 236,584 shares of the stock traded hands, compared to its average volume of 570,139. Impel Pharmaceuticals has a 1 year low of $0.29 and a 1 year high of $7.39. The firm’s 50 day moving average is $0.97 and its two-hundred day moving average is $1.27. The stock has a market cap of $13.75 million, a price-to-earnings ratio of -0.17 and a beta of 0.06.

Impel Pharmaceuticals (NASDAQ:IMPL) last posted its earnings results on Friday, August 18th. The company reported ($0.31) earnings per share (EPS) for the quarter. The business had revenue of $6.58 million for the quarter. As a group, analysts anticipate that Impel Pharmaceuticals will post -3.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Impel Pharmaceuticals

Several institutional investors have recently made changes to their positions in the business. Mcdonald Partners LLC grew its holdings in Impel Pharmaceuticals by 72.6% during the 2nd quarter. Mcdonald Partners LLC now owns 20,200 shares of the company’s stock valued at $26,000 after buying an additional 8,500 shares in the last quarter. Jane Street Group LLC purchased a new stake in Impel Pharmaceuticals during the 4th quarter valued at approximately $49,000. Tower Research Capital LLC TRC grew its holdings in Impel Pharmaceuticals by 746.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 10,245 shares of the company’s stock valued at $50,000 after buying an additional 9,035 shares in the last quarter. Raymond James & Associates purchased a new stake in Impel Pharmaceuticals during the 4th quarter valued at approximately $54,000. Finally, Citadel Advisors LLC purchased a new stake in Impel Pharmaceuticals during the 3rd quarter valued at approximately $64,000. Institutional investors own 73.88% of the company’s stock.

About Impel Pharmaceuticals

Impel Pharmaceuticals Inc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of therapies for patients suffering from central nervous system disease in the United States. Its lead product candidate is Trudhesa, an upper nasal formulation of dihydroergotamine for the acute treatment of migraine.