Short Interest in Medicus Pharma Ltd (NASDAQ:MDCX) Drops By 35.4%

Medicus Pharma Ltd (NASDAQ:MDCX) saw a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 1,928,591 shares, a drop of 35.4% from the May 31st total of 2,984,551 shares. Currently, 3.7% of the shares of the company are sold short. Based on an average daily volume of 1,878,019 shares, the days-to-cover ratio is presently 1.0 days.

Hedge Funds Weigh In On Medicus Pharma

Several large investors have recently added to or reduced their stakes in MDCX. Private Advisor Group LLC grew its holdings in shares of Medicus Pharma by 3.8% during the 3rd quarter. Private Advisor Group LLC now owns 151,500 shares of the company’s stock worth $351,000 after purchasing an additional 5,500 shares in the last quarter. Osaic Holdings Inc. increased its position in shares of Medicus Pharma by 180.0% during the second quarter. Osaic Holdings Inc. now owns 14,000 shares of the company’s stock valued at $42,000 after purchasing an additional 9,000 shares during the period. Jane Street Group LLC acquired a new position in shares of Medicus Pharma in the second quarter valued at $41,000. Commonwealth Equity Services LLC raised its stake in shares of Medicus Pharma by 161.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 28,493 shares of the company’s stock valued at $44,000 after purchasing an additional 17,611 shares in the last quarter. Finally, May Hill Capital LLC lifted its position in Medicus Pharma by 100.0% in the fourth quarter. May Hill Capital LLC now owns 35,622 shares of the company’s stock worth $55,000 after purchasing an additional 17,811 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MDCX. D. Boral Capital reissued a “buy” rating and set a $9.00 price objective on shares of Medicus Pharma in a research report on Monday, April 20th. Roth Mkm started coverage on Medicus Pharma in a report on Tuesday, April 21st. They issued a “buy” rating on the stock. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Medicus Pharma in a report on Friday, April 10th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.00.

Medicus Pharma Price Performance

NASDAQ MDCX opened at $0.42 on Friday. The company’s fifty day moving average is $0.35 and its two-hundred day moving average is $0.79. Medicus Pharma has a 52-week low of $0.25 and a 52-week high of $3.69. The firm has a market capitalization of $23.59 million, a price-to-earnings ratio of -0.16 and a beta of -0.05.

Medicus Pharma (NASDAQ:MDCX) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.13). As a group, sell-side analysts expect that Medicus Pharma will post -0.51 earnings per share for the current fiscal year.

Medicus Pharma Company Profile

Medicus Pharma, Inc, traded on the Nasdaq under the ticker MDCX, is a specialty pharmaceutical company focused on the development, acquisition and commercialization of prescription therapies. The company’s core business centers on oncology supportive care and critical care products, with its lead offering being Levoleucovorin injection, an FDA-approved agent designed to reduce toxicity and enhance efficacy of certain chemotherapeutic regimens in colorectal cancer.

Headquartered in the United States, Medicus Pharma has built its portfolio through strategic licensing and acquisition of sterile injectable and oral therapies.