Short Interest in Estrella Immunopharma, Inc. (NASDAQ:ESLA) Declines By 57.6%

Key Points

• Short interest plunged 57.6% to 265,805 shares as of April 15, representing about 1.4% of shares short and a short-interest ratio of just 0.9 days based on average daily volume.
• Several institutional investors (including Geode, State Street, XTX Topco, Quadrature and Marshall Wace) increased or initiated stakes, but overall institutional ownership remains very low at 0.35%.
• Shares traded down 7.6% to $1.58 with a market cap of $67.4M; analyst coverage is mixed (one Buy, one Sell) yielding a consensus "Hold" rating and a $8.00 price target.

Estrella Immunopharma, Inc. (NASDAQ:ESLA - Get Free Report) saw a large drop in short interest during the month of April. As of April 15th, there was short interest totaling 265,805 shares, a drop of 57.6% from the March 31st total of 626,324 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average daily volume of 300,565 shares, the short-interest ratio is currently 0.9 days.

Institutional Investors Weigh In On Estrella Immunopharma

Several institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in Estrella Immunopharma by 8.2% in the 4th quarter. Geode Capital Management LLC now owns 109,808 shares of the company's stock valued at $171,000 after buying an additional 8,318 shares during the period. State Street Corp increased its holdings in Estrella Immunopharma by 93.5% in the 4th quarter. State Street Corp now owns 43,252 shares of the company's stock valued at $67,000 after buying an additional 20,900 shares during the period. Quadrature Capital Ltd bought a new stake in Estrella Immunopharma in the 4th quarter valued at $43,000. XTX Topco Ltd increased its holdings in Estrella Immunopharma by 376.9% in the 4th quarter. XTX Topco Ltd now owns 49,472 shares of the company's stock valued at $77,000 after buying an additional 39,099 shares during the period. Finally, Marshall Wace LLP bought a new stake in Estrella Immunopharma in the 4th quarter valued at $88,000. Institutional investors own 0.35% of the company's stock.

Estrella Immunopharma Stock Down 7.6%

Estrella Immunopharma stock traded down $0.13 on Friday, hitting $1.58. The company's stock had a trading volume of 96,775 shares, compared to its average volume of 166,111. The firm has a market cap of $67.41 million, a P/E ratio of -4.51 and a beta of 0.58. The company has a fifty day moving average price of $1.31 and a 200-day moving average price of $1.55. Estrella Immunopharma has a one year low of $0.78 and a one year high of $3.15.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wall Street Zen upgraded shares of Estrella Immunopharma from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. Weiss Ratings restated a "sell (d-)" rating on shares of Estrella Immunopharma in a research report on Wednesday, January 28th. Finally, D. Boral Capital restated a "buy" rating and issued a $8.00 price target on shares of Estrella Immunopharma in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Estrella Immunopharma presently has an average rating of "Hold" and a consensus target price of $8.00.

Estrella Immunopharma Company Profile

Estrella Immunopharma, Inc, a preclinical-stage biopharmaceutical company, develops T-cell therapies for blood cancers and solid tumors in the United States. The company's lead product candidates include EB103 for the treatment of diffuse large B-cell lymphoma and is in pre clinical trial; and EB104 to treat diffuse large B-cell lymphoma and acute lymphocytic leukemia. It has a collaborative partnership with Imugene Limited for the development of solid tumor treatments using Imugene's product candidate CF33-CD19t in conjunction with EB103.

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