Lipella Pharmaceuticals Inc. (NASDAQ:LIPO – Get Free Report) was the recipient of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 58,200 shares, a decrease of 73.1% from the February 13th total of 216,200 shares. Approximately 6.5% of the shares of the company are short sold. Based on an average daily trading volume, of 2,120,000 shares, the short-interest ratio is presently 0.0 days.
Hedge Funds Weigh In On Lipella Pharmaceuticals
An institutional investor recently bought a new position in Lipella Pharmaceuticals stock. Virtu Financial LLC bought a new position in shares of Lipella Pharmaceuticals Inc. (NASDAQ:LIPO – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,310 shares of the company’s stock, valued at approximately $41,000. Virtu Financial LLC owned approximately 1.10% of Lipella Pharmaceuticals as of its most recent SEC filing. Institutional investors own 74.31% of the company’s stock.
Lipella Pharmaceuticals Stock Down 1.8 %
LIPO opened at $2.15 on Friday. The company has a market capitalization of $2.60 million, a price-to-earnings ratio of -0.51 and a beta of 0.13. The firm has a 50-day moving average price of $3.01 and a 200-day moving average price of $3.10. Lipella Pharmaceuticals has a twelve month low of $2.02 and a twelve month high of $12.00.
About Lipella Pharmaceuticals
Lipella Pharmaceuticals Inc, a biotechnology company, focuses on developing drugs by reformulating the active agents in existing generic drugs and optimizing these reformulations for various applications. The company develops LP-10, a formulation of tacrolimus that has completed Phase 2a clinical trial for patients with radiation-induced hemorrhagic cystitis; LP-310, a formulation of tacrolimus for the treatment of oral lichen planus; and LP-410, an oral liposomal formulation of tacrolimus for the treatment of oral graft-versus-host disease (GVHD).
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