ASLAN Pharmaceuticals Limited (NASDAQ:ASLN) Sees Significant Decrease in Short Interest

ASLAN Pharmaceuticals Limited (NASDAQ:ASLN) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totalling 269,900 shares, a drop of 9.2% from the May 31st total of 297,400 shares. Approximately 1.2% of the company’s stock are sold short. Based on an average trading volume of 433,000 shares, the days-to-cover ratio is currently 0.6 days.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ASLN shares. Piper Sandler restated an “overweight” rating and set a $10.00 price objective (down previously from $15.00) on shares of ASLAN Pharmaceuticals in a report on Wednesday, March 13th. HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of ASLAN Pharmaceuticals in a research note on Friday, May 3rd.

ASLAN Pharmaceuticals Price Performance

ASLAN Pharmaceuticals stock traded down $0.02 during trading hours on Tuesday, hitting $0.28. 205,489 shares of the stock traded hands, compared to its average volume of 707,488. ASLAN Pharmaceuticals has a 1 year low of $0.27 and a 1 year high of $3.89. The stock has a market capitalization of $4.59 million, a price-to-earnings ratio of -0.10 and a beta of 1.41. The firm’s 50 day moving average price is $0.41 and its 200-day moving average price is $0.53.

Shares of ASLAN Pharmaceuticals are set to reverse split before the market opens on Wednesday, July 3rd. The 1-8 reverse split was announced on Wednesday, July 3rd. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, July 3rd.

ASLAN Pharmaceuticals (NASDAQ:ASLN) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($1.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.61). Research analysts forecast that ASLAN Pharmaceuticals will post -2.55 earnings per share for the current fiscal year.

ASLAN Pharmaceuticals Company Profile

ASLAN Pharmaceuticals Limited, a clinical-stage immunology focused biopharmaceutical company, engages in developing various treatments to transform the lives of patients. The company's clinical portfolio comprises eblasakimab (ASLAN004), a monoclonal antibody that targets the IL-13 receptor a1 subunit which is under Phase 2 developed for the treatment of atopic dermatitis and other immunology indications; and farudodstat (ASLAN003), an orally active, potent inhibitor of human dihydroorotate dehydrogenase currently under Phase 2 clinical trials for the treatment of autoimmune diseases.