Rexahn Pharmaceuticals, Inc. (NYSEAMERICAN:RNN) was the target of a significant growth in short interest in January. As of January 31st, there was short interest totalling 1,381,902 shares, a growth of 1.8% from the January 12th total of 1,356,967 shares. Based on an average trading volume of 693,682 shares, the short-interest ratio is currently 2.0 days. Approximately 4.5% of the shares of the stock are sold short.
An institutional investor recently bought a new position in Rexahn Pharmaceuticals stock. Sabby Management LLC bought a new position in shares of Rexahn Pharmaceuticals, Inc. (NYSEAMERICAN:RNN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 246,946 shares of the company’s stock, valued at approximately $706,000. Sabby Management LLC owned approximately 0.87% of Rexahn Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).
Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Rexahn Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 price objective for the company in a report on Friday, November 10th. ValuEngine upgraded shares of Rexahn Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Thursday, November 2nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $19.50 price objective on shares of Rexahn Pharmaceuticals in a report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $13.65.
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Rexahn Pharmaceuticals Company Profile
Rexahn Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company engaged in the discovery, development and commercialization of treatments for cancer. The Company’s clinical-stage drug candidates in active development include Archexin, RX-3117 and Supinoxin (RX-5902). Archexin is a potent inhibitor of the protein kinase Akt-1, which focuses on cancer cell proliferation, survival, angiogenesis, metastasis and drug resistance.
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