PaxMedica, Inc. (NASDAQ:PXMD) Sees Significant Increase in Short Interest

PaxMedica, Inc. (NASDAQ:PXMD) was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totalling 637,700 shares, a growth of 377.0% from the March 31st total of 133,700 shares. Based on an average trading volume of 2,330,000 shares, the days-to-cover ratio is presently 0.3 days. Currently, 9.4% of the shares of the stock are short sold.

PaxMedica Stock Performance

NASDAQ:PXMD traded up $0.01 during trading hours on Thursday, reaching $0.70. The company’s stock had a trading volume of 214,987 shares, compared to its average volume of 1,926,746. The firm has a market capitalization of $5.26 million, a price-to-earnings ratio of -0.03 and a beta of 0.61. The firm has a 50-day simple moving average of $0.62 and a 200-day simple moving average of $1.23. PaxMedica has a 1 year low of $0.37 and a 1 year high of $29.75.

PaxMedica Company Profile

PaxMedica, Inc, a clinical stage biopharmaceutical company, focuses on the development of anti-purinergic drug therapies for the treatment of disorders with intractable neurologic symptoms. The company's lead product candidate is PAX-101, an intravenous formulation of suramin for the treatment of autism spectrum disorder, myalgic encephalomyelitis/chronic fatigue syndrome, long COVID-19 syndrome, and human African trypanosomiasis (HAT).