Rexahn Pharmaceuticals, Inc. (NYSEAMERICAN:RNN) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 884,004 shares, a decline of 51.7% from the October 15th total of 1,830,062 shares. Based on an average daily volume of 451,248 shares, the days-to-cover ratio is currently 2.0 days. Currently, 2.8% of the shares of the company are short sold.
A hedge fund recently raised its stake in Rexahn Pharmaceuticals stock. Northern Trust Corp grew its position in Rexahn Pharmaceuticals, Inc. (NYSEAMERICAN:RNN) by 61.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,213 shares of the company’s stock after acquiring an additional 29,354 shares during the period. Northern Trust Corp owned about 0.24% of Rexahn Pharmaceuticals worth $117,000 at the end of the most recent quarter.
NYSEAMERICAN RNN opened at $1.17 on Friday. Rexahn Pharmaceuticals has a one year low of $1.03 and a one year high of $2.70.
Rexahn Pharmaceuticals (NYSEAMERICAN:RNN) last posted its quarterly earnings data on Monday, November 5th. The company reported ($0.17) EPS for the quarter, meeting analysts’ consensus estimates of ($0.17).
A number of research firms have commented on RNN. HC Wainwright set a $20.00 price objective on shares of Rexahn Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, September 25th. Zacks Investment Research lowered shares of Rexahn Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 16th. B. Riley set a $8.00 price objective on shares of Rexahn Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, August 13th. Finally, Ifs Securities upgraded shares of Rexahn Pharmaceuticals from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, October 4th.
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About Rexahn Pharmaceuticals
Rexahn Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes treatments for cancer. The company's clinical stage drug candidates include RX-3117, which is in Phase II a clinical trial for the treatment of patients with relapsed or refractory pancreatic cancer and advanced bladder cancer; and Supinoxin that is in Phase II a clinical study to treat patients with metastatic triple negative breast cancer.
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