PDS Biotechnology Co. (NASDAQ:PDSB) Short Interest Down 18.7% in March

by · The Cerbat Gem

PDS Biotechnology Co. (NASDAQ:PDSB – Get Free Report) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 3,140,000 shares, a drop of 18.7% from the March 15th total of 3,860,000 shares. Approximately 9.3% of the shares of the company are sold short. Based on an average daily volume of 618,600 shares, the days-to-cover ratio is currently 5.1 days.

Wall Street Analyst Weigh In

Separately, HC Wainwright decreased their price objective on shares of PDS Biotechnology from $21.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Read Our Latest Stock Report on PDS Biotechnology

PDS Biotechnology Price Performance

PDSB remained flat at $1.08 during trading on Monday. The company had a trading volume of 236,275 shares, compared to its average volume of 494,020. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.55. The stock has a 50 day simple moving average of $1.23 and a 200 day simple moving average of $1.88. PDS Biotechnology has a twelve month low of $0.85 and a twelve month high of $4.42. The company has a market capitalization of $49.03 million, a price-to-earnings ratio of -0.93 and a beta of 1.50.

PDS Biotechnology (NASDAQ:PDSB – Get Free Report) last announced its earnings results on Thursday, March 27th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.08. As a group, sell-side analysts predict that PDS Biotechnology will post -1.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in PDS Biotechnology by 9.8% during the 3rd quarter. Geode Capital Management LLC now owns 415,113 shares of the company’s stock worth $1,586,000 after acquiring an additional 37,142 shares during the period. Blair William & Co. IL raised its stake in PDS Biotechnology by 29.4% in the fourth quarter. Blair William & Co. IL now owns 157,500 shares of the company’s stock valued at $257,000 after purchasing an additional 35,757 shares in the last quarter. Renaissance Technologies LLC lifted its position in PDS Biotechnology by 331.0% during the fourth quarter. Renaissance Technologies LLC now owns 100,000 shares of the company’s stock worth $163,000 after purchasing an additional 76,800 shares during the period. Two Sigma Investments LP grew its stake in PDS Biotechnology by 273.5% during the fourth quarter. Two Sigma Investments LP now owns 65,732 shares of the company’s stock worth $107,000 after buying an additional 48,132 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in PDS Biotechnology in the 4th quarter valued at about $89,000. 26.84% of the stock is owned by institutional investors.

About PDS Biotechnology

(Get Free Report)

PDS Biotechnology Corporation, a clinical-stage biopharmaceutical company, developing a pipeline of targeted cancer immunotherapies in the United States. The company's lead product candidate is PDS0101 (HPV16), which is in Phase II clinical trial provides a first line treatment for the recurrent/metastatic head and neck cancer, and human papillomavirus associated malignancies.

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