Rexahn Pharmaceuticals, Inc. (NYSE:RNN) was the target of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 752,788 shares, a drop of 2.7% from the August 31st total of 773,594 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily volume of 859,779 shares, the days-to-cover ratio is presently 0.9 days.
Rexahn Pharmaceuticals (NYSE:RNN) opened at 0.21 on Friday. The company’s market cap is $44.79 million. The firm’s 50-day moving average is $0.24 and its 200 day moving average is $0.28. Rexahn Pharmaceuticals has a 52-week low of $0.20 and a 52-week high of $0.52.
Rexahn Pharmaceuticals (NYSE:RNN) last posted its earnings results on Monday, August 8th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. On average, equities research analysts predict that Rexahn Pharmaceuticals will post ($0.07) EPS for the current fiscal year.
A hedge fund recently raised its stake in Rexahn Pharmaceuticals stock. Vanguard Group Inc. boosted its stake in shares of Rexahn Pharmaceuticals, Inc. (NYSE:RNN) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,904,097 shares of the company’s stock after buying an additional 49,761 shares during the period. Vanguard Group Inc. owned about 2.30% of Rexahn Pharmaceuticals worth $1,232,000 at the end of the most recent quarter.
Separately, Zacks Investment Research upgraded shares of Rexahn Pharmaceuticals from a “hold” rating to a “buy” rating and set a $0.25 price objective for the company in a research report on Friday, August 12th.
About Rexahn Pharmaceuticals
Rexahn Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company engaged in the discovery, development and commercialization of treatments for cancer. The Company’s clinical-stage drug candidates in active development include Archexin, RX-3117 and Supinoxin (RX-5902). Archexin is a potent inhibitor of the protein kinase Akt-1, which focuses on cancer cell proliferation, survival, angiogenesis, metastasis and drug resistance.
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