PharmAthene, Inc. (NYSE:PIP) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totalling 1,824,728 shares, a drop of 3.4% from the September 15th total of 1,888,701 shares. Currently, 2.9% of the shares of the company are sold short. Based on an average daily trading volume, of 270,493 shares, the days-to-cover ratio is presently 6.7 days.
PharmAthene (NYSE:PIP) opened at 2.80 on Wednesday. The firm’s 50-day moving average is $2.74 and its 200-day moving average is $2.45. PharmAthene has a 52 week low of $1.38 and a 52 week high of $2.92. The company has a market cap of $183.65 million and a PE ratio of 45.16.
Separately, TheStreet raised PharmAthene from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th.
Pharmathene, Inc (Pharmathene) is a biodefense company. The Company is focused on the development of medical counter measures against biological and chemical threats. The Company is involved in the development of two next generation anthrax vaccines. The Company’s anthrax vaccines use recombinant protective antigen (rPA) manufacturing processes.
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