Petros Pharmaceuticals, Inc. (NASDAQ:PTPI) Short Interest Update

Petros Pharmaceuticals, Inc. (NASDAQ:PTPI) was the recipient of a large drop in short interest in March. As of March 15th, there was short interest totalling 88,400 shares, a drop of 72.1% from the February 29th total of 317,200 shares. Approximately 6.8% of the shares of the stock are short sold. Based on an average daily volume of 1,020,000 shares, the short-interest ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

Separately, Maxim Group started coverage on Petros Pharmaceuticals in a report on Friday, December 8th. They set a “buy” rating and a $4.00 target price on the stock.

Institutional Investors Weigh In On Petros Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of Montreal Can bought a new position in Petros Pharmaceuticals in the second quarter valued at about $27,000. Renaissance Technologies LLC acquired a new stake in shares of Petros Pharmaceuticals during the 2nd quarter worth approximately $34,000. Virtu Financial LLC bought a new stake in shares of Petros Pharmaceuticals during the fourth quarter worth approximately $35,000. Schonfeld Strategic Advisors LLC acquired a new position in Petros Pharmaceuticals in the second quarter valued at approximately $47,000. Finally, Vanguard Group Inc. boosted its stake in Petros Pharmaceuticals by 114.8% in the third quarter. Vanguard Group Inc. now owns 255,914 shares of the company’s stock valued at $131,000 after acquiring an additional 136,773 shares during the last quarter. Institutional investors own 12.34% of the company’s stock.

Petros Pharmaceuticals Price Performance

Shares of PTPI stock traded up $0.03 during trading hours on Thursday, reaching $1.48. 367,507 shares of the company were exchanged, compared to its average volume of 1,072,289. The company has a debt-to-equity ratio of 1.05, a current ratio of 3.02 and a quick ratio of 2.71. The stock’s fifty day moving average is $1.42 and its two-hundred day moving average is $1.45. Petros Pharmaceuticals has a fifty-two week low of $0.92 and a fifty-two week high of $9.54.

Petros Pharmaceuticals Company Profile

Petros Pharmaceuticals, Inc, a pharmaceutical company, focuses on men's health therapeutics in the United States and internationally. It operates through two segments, Prescription Medications and Medical Devices. The company engages in the commercialization and development of Stendra, an PDE-5 inhibitor prescription medication for the treatment of erectile dysfunction (ED).