BriaCell Therapeutics Corp. (NASDAQ:BCTX) Sees Large Drop in Short Interest

BriaCell Therapeutics Corp. (NASDAQ:BCTX) was the target of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 464,400 shares, a decline of 18.4% from the July 15th total of 569,400 shares. Based on an average daily volume of 377,200 shares, the days-to-cover ratio is currently 1.2 days. Currently, 3.0% of the shares of the stock are sold short.

Hedge Funds Weigh In On BriaCell Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. National Bank of Canada FI boosted its stake in shares of BriaCell Therapeutics by 200.0% during the fourth quarter. National Bank of Canada FI now owns 7,500 shares of the company’s stock valued at $40,000 after purchasing an additional 5,000 shares during the period. Onyx Bridge Wealth Group LLC bought a new stake in BriaCell Therapeutics during the 4th quarter valued at $176,000. Finally, K.J. Harrison & Partners Inc boosted its position in BriaCell Therapeutics by 22.1% during the 4th quarter. K.J. Harrison & Partners Inc now owns 80,715 shares of the company’s stock valued at $476,000 after buying an additional 14,625 shares during the period. Hedge funds and other institutional investors own 15.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of BriaCell Therapeutics in a research report on Tuesday, June 4th.

BriaCell Therapeutics Price Performance

Shares of NASDAQ BCTX remained flat at $0.56 during trading hours on Friday. The company had a trading volume of 124,166 shares, compared to its average volume of 204,671. The business’s 50-day moving average is $0.93 and its 200-day moving average is $2.04. The stock has a market cap of $10.23 million, a P/E ratio of -0.45 and a beta of 1.29. BriaCell Therapeutics has a 52 week low of $0.52 and a 52 week high of $7.59.

BriaCell Therapeutics (NASDAQ:BCTX) last announced its quarterly earnings data on Friday, June 14th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.66. Analysts predict that BriaCell Therapeutics will post -1.39 earnings per share for the current year.

BriaCell Therapeutics Company Profile

BriaCell Therapeutics Corp. operates as a Phase 3 biotechnology company transforming cancer care with its novel cellular immunotherapies. It is conducting a pivotal Phase 3 clinical trial in advanced breast cancer with its Bria-IMT in combination with an immune check point inhibitor. It is also developing personalized off-the-shelf treatments for breast cancer, prostate cancer, and other cancers.