Short Interest in Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) Grows By 601.9%

Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) was the target of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 216,200 shares, an increase of 601.9% from the January 31st total of 30,800 shares. Approximately 24.0% of the company’s shares are short sold. Based on an average daily volume of 2,130,000 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On Lipella Pharmaceuticals

A hedge fund recently bought a new stake in Lipella Pharmaceuticals stock. Virtu Financial LLC acquired a new position in Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,310 shares of the company’s stock, valued at approximately $41,000. Virtu Financial LLC owned approximately 1.10% of Lipella Pharmaceuticals as of its most recent SEC filing. 74.31% of the stock is owned by institutional investors.

Lipella Pharmaceuticals Trading Down 0.3 %

Shares of LIPO traded down $0.01 during trading hours on Friday, reaching $2.93. 29,110 shares of the company traded hands, compared to its average volume of 3,436,541. The firm has a market cap of $3.54 million, a price-to-earnings ratio of -0.69 and a beta of 0.28. Lipella Pharmaceuticals has a 12-month low of $2.21 and a 12-month high of $12.00. The stock’s fifty day moving average price is $3.16 and its 200 day moving average price is $3.18.

Lipella Pharmaceuticals Company Profile

Lipella Pharmaceuticals Inc, a biotechnology company, focuses on developing drugs by reformulating the active agents in existing generic drugs and optimizing these reformulations for various applications. The company develops LP-10, a formulation of tacrolimus that has completed Phase 2a clinical trial for patients with radiation-induced hemorrhagic cystitis; LP-310, a formulation of tacrolimus for the treatment of oral lichen planus; and LP-410, an oral liposomal formulation of tacrolimus for the treatment of oral graft-versus-host disease (GVHD).