Milestone Pharmaceuticals Inc. (NASDAQ:MIST) Short Interest Update

Key Points

• Short interest rose 22.1% in April to 10,325,577 shares (about 10.9% of shares short) with a short-interest ratio of 2.8 days.
• CEO Joseph Oliveto sold 36,500 shares under a Rule 10b5-1 plan (a 7.56% reduction in his position); corporate insiders own 19.5% of the stock.
• Analysts are mixed but the consensus is a Moderate Buy with an average target of $7.50; the company beat EPS estimates last quarter (-$0.16 vs. -$0.18) while reporting revenue of just $1.44M, well below expectations.

Milestone Pharmaceuticals Inc. (NASDAQ:MIST - Get Free Report) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 10,325,577 shares, a growth of 22.1% from the March 31st total of 8,453,485 shares. Based on an average daily volume of 3,686,839 shares, the short-interest ratio is currently 2.8 days. Approximately 10.9% of the company's shares are short sold.

Milestone Pharmaceuticals Trading Down 1.6%

Shares of NASDAQ:MIST opened at $1.82 on Thursday. The firm has a fifty day moving average of $1.68 and a two-hundred day moving average of $1.94. The firm has a market capitalization of $214.15 million, a P/E ratio of -2.30 and a beta of 0.69. Milestone Pharmaceuticals has a 12-month low of $1.00 and a 12-month high of $3.06. The company has a quick ratio of 7.96, a current ratio of 8.01 and a debt-to-equity ratio of 1.37.

Milestone Pharmaceuticals (NASDAQ:MIST - Get Free Report) last issued its earnings results on Friday, March 20th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.02. The company had revenue of $1.44 million for the quarter, compared to analyst estimates of $37.52 million. On average, equities analysts expect that Milestone Pharmaceuticals will post -0.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Zacks Research lowered shares of Milestone Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 24th. Raymond James Financial began coverage on shares of Milestone Pharmaceuticals in a research note on Friday, April 10th. They issued a "strong-buy" rating and a $6.00 price objective for the company. HC Wainwright reissued a "buy" rating and set a $8.00 target price on shares of Milestone Pharmaceuticals in a research note on Tuesday, January 6th. Finally, Wall Street Zen lowered shares of Milestone Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, April 11th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Milestone Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $7.50.

Insider Buying and Selling

In related news, CEO Joseph Oliveto sold 36,500 shares of the firm's stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $2.26, for a total value of $82,490.00. Following the completion of the transaction, the chief executive officer owned 446,244 shares of the company's stock, valued at approximately $1,008,511.44. This trade represents a 7.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 19.50% of the company's stock.

Institutional Investors Weigh In On Milestone Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Strategic Family Wealth Counselors L.L.C. acquired a new stake in shares of Milestone Pharmaceuticals in the 4th quarter valued at $25,000. Eaton Financial Holdings Company LLC acquired a new stake in shares of Milestone Pharmaceuticals in the 4th quarter valued at $26,000. Bank of America Corp DE lifted its stake in shares of Milestone Pharmaceuticals by 200,550.0% in the 3rd quarter. Bank of America Corp DE now owns 16,052 shares of the company's stock valued at $32,000 after purchasing an additional 16,044 shares during the last quarter. Stephenson & Company Inc. acquired a new stake in shares of Milestone Pharmaceuticals in the 3rd quarter valued at $40,000. Finally, Cetera Investment Advisers acquired a new stake in shares of Milestone Pharmaceuticals in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 86.18% of the company's stock.

Milestone Pharmaceuticals Company Profile

Milestone Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing innovative therapies for respiratory diseases. The company's research emphasizes both biologic and small-molecule approaches designed to improve mucociliary clearance, reduce airway inflammation and address chronic and refractory cough. Milestone's pipeline targets key underserved conditions such as cystic fibrosis, primary ciliary dyskinesia and severe asthma.

Milestone's lead product candidates are delivered through inhalation or systemic administration, reflecting the company's commitment to optimizing therapeutic delivery directly to the lungs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.