Short Interest in Guardian Pharmacy Services, Inc. (NYSE:GRDN) Increases By 127.4%

Key Points

• Short interest in Guardian Pharmacy Services rose by 127.4% in September, with a total of 1,220,000 shares currently sold short, indicating increased bearish sentiment among investors.
• Several institutional investors have made significant moves, including Police & Firemen's Retirement System increasing their holdings by 76.8% in the 2nd quarter.
• Equities analysts have mixed opinions on the stock; Oppenheimer has set an "outperform" rating with a price target of $30.00, while Weiss Ratings issued a "sell" rating.

Guardian Pharmacy Services, Inc. (NYSE:GRDN - Get Free Report) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 1,220,000 shares, an increase of 127.4% from the September 15th total of 536,600 shares. Based on an average trading volume of 281,200 shares, the days-to-cover ratio is presently 4.3 days. Currently, 13.9% of the shares of the company are sold short. Currently, 13.9% of the shares of the company are sold short. Based on an average trading volume of 281,200 shares, the days-to-cover ratio is presently 4.3 days.

Institutional Trading of Guardian Pharmacy Services

Several institutional investors and hedge funds have recently bought and sold shares of GRDN. Parkside Financial Bank & Trust acquired a new position in shares of Guardian Pharmacy Services in the 2nd quarter valued at about $41,000. Raymond James Financial Inc. acquired a new position in shares of Guardian Pharmacy Services in the 2nd quarter valued at about $43,000. Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Guardian Pharmacy Services by 76.8% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 2,444 shares of the company's stock valued at $52,000 after purchasing an additional 1,062 shares during the period. State of Wyoming acquired a new position in shares of Guardian Pharmacy Services in the 2nd quarter valued at about $58,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Guardian Pharmacy Services in the 2nd quarter valued at about $75,000.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Oppenheimer initiated coverage on shares of Guardian Pharmacy Services in a report on Friday, October 10th. They set an "outperform" rating and a $30.00 price target for the company. Truist Financial upped their price objective on shares of Guardian Pharmacy Services from $28.00 to $30.00 and gave the stock a "buy" rating in a report on Friday, September 26th. Wall Street Zen downgraded shares of Guardian Pharmacy Services from a "strong-buy" rating to a "buy" rating in a report on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Guardian Pharmacy Services in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $27.25.

Guardian Pharmacy Services Price Performance

NYSE GRDN traded up $0.65 on Monday, hitting $25.60. 61,929 shares of the company were exchanged, compared to its average volume of 203,837. The company's 50 day moving average price is $25.72 and its 200-day moving average price is $23.26. The firm has a market capitalization of $1.62 billion and a P/E ratio of -16.83. Guardian Pharmacy Services has a twelve month low of $16.91 and a twelve month high of $30.39.

Guardian Pharmacy Services Company Profile

Guardian Pharmacy Services, Inc, a pharmacy service company, provides a suite of technology-enabled services designed to help residents of long-term health care facilities (LTCFs) in the United States. Its individualized clinical, drug dispensing, and administration capabilities are used to serve the needs of residents in lower acuity LTCFs, such as assisted living facilities and behavioral health facilities and group homes.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.