NEXGEL, Inc. (NASDAQ:NXGL) Short Interest Up 14.7% in January

NEXGEL, Inc. (NASDAQ:NXGL) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 131,100 shares, a growth of 14.7% from the January 15th total of 114,300 shares. Approximately 2.5% of the shares of the stock are sold short. Based on an average daily volume of 128,900 shares, the days-to-cover ratio is currently 1.0 days.

NEXGEL Stock Performance

Shares of NXGL opened at $3.53 on Monday. The business’s 50 day moving average is $3.84 and its 200 day moving average is $3.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.51 and a quick ratio of 0.93. NEXGEL has a 12-month low of $1.84 and a 12-month high of $5.10.

Institutional Investors Weigh In On NEXGEL

Institutional investors and hedge funds have recently modified their holdings of the stock. Northeast Financial Group Inc. boosted its position in shares of NEXGEL by 168.8% during the third quarter. Northeast Financial Group Inc. now owns 31,848 shares of the company’s stock worth $82,000 after acquiring an additional 20,000 shares during the last quarter. IFP Advisors Inc bought a new position in shares of NEXGEL during the 4th quarter valued at about $49,000. Virtu Financial LLC purchased a new position in shares of NEXGEL during the fourth quarter valued at about $48,000. Geode Capital Management LLC grew its position in shares of NEXGEL by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 60,142 shares of the company’s stock valued at $268,000 after purchasing an additional 3,302 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of NEXGEL by 456.4% in the fourth quarter. Renaissance Technologies LLC now owns 158,331 shares of the company’s stock worth $706,000 after purchasing an additional 129,876 shares during the last quarter. Institutional investors own 2.21% of the company’s stock.

About NEXGEL

NEXGEL, Inc manufactures high water content, electron beam cross-linked, and aqueous polymer hydrogels and gels. Its products are used for wound care, medical diagnostics, transdermal drug delivery, and cosmetics. The company was formerly known as AquaMed Technologies, Inc and changed its name to NEXGEL, Inc in November 2019.