Sophiris Bio Inc. (NASDAQ:SPHS) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 1,929,722 shares, an increase of 35.9% from the August 31st total of 1,419,895 shares. Approximately 11.2% of the shares of the company are sold short. Based on an average daily volume of 1,930,398 shares, the days-to-cover ratio is currently 1.0 days.
An institutional investor recently raised its position in Sophiris Bio stock. Citadel Advisors LLC raised its position in Sophiris Bio Inc. (NASDAQ:SPHS) by 65.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,176 shares of the biopharmaceutical company’s stock after buying an additional 19,402 shares during the period. Citadel Advisors LLC owned 0.23% of Sophiris Bio worth $106,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 5.29% of the company’s stock.
Sophiris Bio (NASDAQ:SPHS) opened at 3.03 on Wednesday. The stock’s 50 day moving average price is $3.39 and its 200-day moving average price is $2.52. The firm’s market capitalization is $68.53 million. Sophiris Bio has a one year low of $0.67 and a one year high of $8.55.
Several equities research analysts recently weighed in on SPHS shares. Maxim Group boosted their target price on Sophiris Bio from $4.00 to $6.00 and gave the stock a “buy” rating in a report on Wednesday, August 10th. Piper Jaffray Cos. assumed coverage on Sophiris Bio in a report on Tuesday, August 30th. They set an “overweight” rating and a $7.00 price target for the company. Echelon Wealth Partners reiterated a “buy” rating and set a $5.00 price target on shares of Sophiris Bio in a report on Friday, June 10th. Finally, Roth Capital assumed coverage on Sophiris Bio in a report on Thursday, September 15th. They set a “buy” rating and a $8.00 price target for the company.
Sophiris Bio Company Profile
Sophiris Bio, Inc, formerly Protox Therapeutics Inc, is a Canada-based biopharmaceutical company focused on the research, development and commercialization of products for the treatment of urological diseases. The Company has operations based in San Diego developing a treatment for benign prostatic hyperplasia (benign prostatic hyperplasia (BPH) or enlarged prostate).
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