Menlo Therapeutics Inc (NASDAQ:MNLO) was the recipient of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 109,800 shares, a growth of 44.1% from the May 30th total of 76,200 shares. Based on an average daily volume of 57,200 shares, the days-to-cover ratio is presently 1.9 days. Approximately 0.9% of the shares of the stock are sold short.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MNLO. Rhumbline Advisers purchased a new position in Menlo Therapeutics in the fourth quarter worth about $48,000. Bank of New York Mellon Corp grew its position in Menlo Therapeutics by 51.0% in the fourth quarter. Bank of New York Mellon Corp now owns 38,662 shares of the company’s stock worth $159,000 after acquiring an additional 13,064 shares in the last quarter. Bank of America Corp DE grew its position in Menlo Therapeutics by 8.9% in the fourth quarter. Bank of America Corp DE now owns 42,160 shares of the company’s stock worth $173,000 after acquiring an additional 3,448 shares in the last quarter. Acadian Asset Management LLC grew its position in Menlo Therapeutics by 18.0% in the first quarter. Acadian Asset Management LLC now owns 42,314 shares of the company’s stock worth $333,000 after acquiring an additional 6,459 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Menlo Therapeutics by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 84,387 shares of the company’s stock worth $347,000 after acquiring an additional 3,608 shares in the last quarter. Institutional investors own 73.95% of the company’s stock.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $25.00 target price on shares of Menlo Therapeutics in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $17.00.
MNLO traded up $0.21 on Friday, hitting $4.93. The company had a trading volume of 56,098 shares, compared to its average volume of 68,503. The firm has a market cap of $112.98 million, a P/E ratio of -2.08 and a beta of 2.47. Menlo Therapeutics has a 12-month low of $3.74 and a 12-month high of $12.00. The company’s fifty day moving average is $6.11.
Menlo Therapeutics (NASDAQ:MNLO) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.81) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.81). As a group, equities research analysts expect that Menlo Therapeutics will post -3.37 EPS for the current fiscal year.
About Menlo Therapeutics
Menlo Therapeutics Inc, a late-stage biopharmaceutical company, focuses on the development and commercialization of serlopitant for the treatment of pruritus associated with dermatologic conditions in the United States. The company has completed Phase II clinical trials in pruritus associated with prurigo nodularis; psoriasis; chronic pruritus; atopic dermatitis; and refractory chronic cough.
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