Short Interest in Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) Expands By 17.5%

Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX - Get Free Report) was the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 163,700 shares, an increase of 17.5% from the April 30th total of 139,300 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average trading volume of 15,400 shares, the short-interest ratio is presently 10.6 days.

Hedge Funds Weigh In On Eupraxia Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the business. Scotia Capital Inc. boosted its position in Eupraxia Pharmaceuticals by 11.6% during the first quarter. Scotia Capital Inc. now owns 1,552,679 shares of the company's stock worth $5,072,000 after purchasing an additional 160,960 shares in the last quarter. Royal Bank of Canada boosted its position in Eupraxia Pharmaceuticals by 21.1% during the first quarter. Royal Bank of Canada now owns 342,828 shares of the company's stock worth $1,125,000 after purchasing an additional 59,683 shares in the last quarter. Bank of Montreal Can boosted its position in Eupraxia Pharmaceuticals by 15.2% during the fourth quarter. Bank of Montreal Can now owns 56,750 shares of the company's stock worth $178,000 after purchasing an additional 7,500 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Eupraxia Pharmaceuticals during the fourth quarter worth approximately $37,000. Finally, Millennium Management LLC purchased a new position in shares of Eupraxia Pharmaceuticals in the fourth quarter valued at approximately $31,000.

Analyst Upgrades and Downgrades

Separately, Craig Hallum initiated coverage on Eupraxia Pharmaceuticals in a report on Friday, February 21st. They set a "buy" rating and a $12.00 target price on the stock.

Eupraxia Pharmaceuticals Price Performance

EPRX stock traded down $0.01 during mid-day trading on Friday, reaching $3.94. 11,001 shares of the company's stock were exchanged, compared to its average volume of 13,225. The company has a market cap of $141.07 million, a price-to-earnings ratio of -5.47 and a beta of 0.66. The stock's 50 day moving average is $3.64 and its 200 day moving average is $3.47. Eupraxia Pharmaceuticals has a 12-month low of $2.20 and a 12-month high of $4.48.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). On average, research analysts forecast that Eupraxia Pharmaceuticals will post -0.67 earnings per share for the current fiscal year.

Eupraxia Pharmaceuticals Company Profile

Eupraxia Pharmaceuticals Inc is a clinical-stage biotechnology company. It focused on the development of locally delivered, extended-release products that have the potential to address therapeutic areas with high unmet medical need. Th company's lead product candidate includes EP-104IAR, for the treatment of pain due to osteoarthritis of the knee.