Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) Short Interest Up 26.3% in March

Key Points

• Short interest rose 26.3% in March to 2,500,950 shares (about 7.0% of the stock) with a days-to-cover ratio of 11.8, indicating elevated shorting pressure.
• Eupraxia reported an EPS loss of ($0.37)
• Analysts are mixed but moderately bullish overall, with a consensus rating of "Moderate Buy" and a $15.00 average price target versus the recent share price near $6.64.

Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX - Get Free Report) was the target of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 2,500,950 shares, an increase of 26.3% from the February 26th total of 1,979,996 shares. Approximately 7.0% of the company's stock are sold short. Based on an average daily trading volume, of 212,578 shares, the days-to-cover ratio is currently 11.8 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EPRX. Guardian Wealth Advisors LLC NC purchased a new stake in Eupraxia Pharmaceuticals in the fourth quarter valued at approximately $76,000. Aptus Capital Advisors LLC purchased a new position in Eupraxia Pharmaceuticals during the 4th quarter worth approximately $76,000. Bank of America Corp DE raised its position in Eupraxia Pharmaceuticals by 402.4% during the 2nd quarter. Bank of America Corp DE now owns 12,559 shares of the company's stock worth $72,000 after buying an additional 10,059 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in Eupraxia Pharmaceuticals during the 2nd quarter valued at approximately $61,000. Finally, TCI Wealth Advisors Inc. acquired a new stake in Eupraxia Pharmaceuticals during the 3rd quarter valued at approximately $65,000.

Eupraxia Pharmaceuticals Trading Down 1.2%

Shares of NASDAQ:EPRX traded down $0.08 on Monday, hitting $6.64. 47,124 shares of the company were exchanged, compared to its average volume of 228,322. The firm has a market capitalization of $238.78 million, a P/E ratio of -6.45 and a beta of 1.27. Eupraxia Pharmaceuticals has a 1-year low of $2.68 and a 1-year high of $9.32. The stock's 50 day moving average price is $8.11 and its 200 day moving average price is $6.97.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) last issued its earnings results on Thursday, March 19th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.21). On average, equities analysts predict that Eupraxia Pharmaceuticals will post -0.67 EPS for the current fiscal year.

Analysts Set New Price Targets

EPRX has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of Eupraxia Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, February 21st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Eupraxia Pharmaceuticals in a report on Thursday, January 22nd. Cantor Fitzgerald increased their price objective on Eupraxia Pharmaceuticals from $11.00 to $19.00 and gave the company an "overweight" rating in a report on Thursday, January 15th. William Blair began coverage on Eupraxia Pharmaceuticals in a research note on Monday, March 23rd. They set an "outperform" rating on the stock. Finally, HC Wainwright decreased their price target on Eupraxia Pharmaceuticals from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, March 17th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Eupraxia Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $15.00.

About Eupraxia Pharmaceuticals

Eupraxia Pharmaceuticals, Inc NASDAQ: EPRX is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for autoimmune and inflammatory diseases. The company's core strategy centers on selectively expanding regulatory T cells (Tregs)—immune cells responsible for maintaining self-tolerance and limiting pathological inflammation—through its proprietary platform. Its lead therapeutic candidate is currently in Phase 1 clinical development in patients with systemic lupus erythematosus.

Based in Seattle, Washington, Eupraxia Pharmaceuticals conducts research and development activities across North America, collaborating with academic institutions and contract research organizations to advance its pipeline.

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