NeuBase Therapeutics, Inc. (NASDAQ:NBSE) Sees Large Drop in Short Interest

NeuBase Therapeutics, Inc. (NASDAQ:NBSE) saw a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 80,500 shares, a decrease of 59.7% from the February 29th total of 199,800 shares. Approximately 2.7% of the company’s shares are sold short. Based on an average daily volume of 227,500 shares, the days-to-cover ratio is currently 0.4 days.

NeuBase Therapeutics Trading Up 3.5 %

Shares of NBSE stock traded up $0.02 on Thursday, reaching $0.45. 282,210 shares of the company’s stock were exchanged, compared to its average volume of 243,921. The company’s fifty day simple moving average is $0.78 and its 200 day simple moving average is $0.78. The stock has a market capitalization of $1.68 million, a PE ratio of -0.06 and a beta of 0.88. NeuBase Therapeutics has a 52 week low of $0.40 and a 52 week high of $5.40.

Hedge Funds Weigh In On NeuBase Therapeutics

A number of institutional investors have recently modified their holdings of NBSE. Renaissance Technologies LLC grew its position in shares of NeuBase Therapeutics by 20.2% during the 3rd quarter. Renaissance Technologies LLC now owns 287,386 shares of the company’s stock worth $114,000 after buying an additional 48,255 shares in the last quarter. Worth Venture Partners LLC lifted its stake in NeuBase Therapeutics by 11.9% in the first quarter. Worth Venture Partners LLC now owns 256,553 shares of the company’s stock worth $482,000 after acquiring an additional 27,300 shares during the period. Royal Bank of Canada increased its position in NeuBase Therapeutics by 64.3% during the 1st quarter. Royal Bank of Canada now owns 114,473 shares of the company’s stock valued at $215,000 after purchasing an additional 44,791 shares during the period. State Street Corp increased its position in NeuBase Therapeutics by 18.4% during the 1st quarter. State Street Corp now owns 68,687 shares of the company’s stock valued at $129,000 after purchasing an additional 10,674 shares during the period. Finally, First Manhattan Co. bought a new stake in shares of NeuBase Therapeutics in the 1st quarter valued at about $26,000. 12.37% of the stock is owned by hedge funds and other institutional investors.

About NeuBase Therapeutics

NeuBase Therapeutics, Inc, a preclinical-stage biopharmaceutical company, focuses on the development of therapies to treat rare genetic diseases and cancers caused by mutant genes. The company's proprietary modular peptide-nucleic acid antisense oligo (PATrOL) platform focuses on addressing Huntington's disease (HD) and myotonic dystrophy, as well as other genetic disorders, and cancer and oncology applications.