Petros Pharmaceuticals, Inc. (NASDAQ:PTPI) was the recipient of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 64,100 shares, a decline of 19.0% from the March 31st total of 79,100 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 82,300 shares, the days-to-cover ratio is currently 0.8 days.
A number of hedge funds have recently added to or reduced their stakes in PTPI. BlackRock Inc. acquired a new position in Petros Pharmaceuticals during the 4th quarter valued at approximately $59,000. FNY Investment Advisers LLC acquired a new stake in shares of Petros Pharmaceuticals during the first quarter worth $73,000. Neville Rodie & Shaw Inc. purchased a new stake in shares of Petros Pharmaceuticals during the fourth quarter valued at $96,000. One68 Global Capital LLC purchased a new position in Petros Pharmaceuticals in the 4th quarter worth $109,000. Finally, Cannell Peter B & Co. Inc. acquired a new stake in Petros Pharmaceuticals during the 4th quarter worth about $112,000. Institutional investors own 39.57% of the company’s stock.
NASDAQ PTPI traded down $0.05 during trading on Tuesday, hitting $3.10. The company’s stock had a trading volume of 9,001 shares, compared to its average volume of 75,092. Petros Pharmaceuticals has a fifty-two week low of $1.80 and a fifty-two week high of $5.96. The company has a market capitalization of $30.28 million, a P/E ratio of -0.83 and a beta of 2.12. The firm’s 50 day moving average is $3.31.
About Petros Pharmaceuticals
Petros Pharmaceuticals, Inc engages in identifying, acquiring, developing, and commercializing therapeutics for men's health issues in the United States and internationally. It operates through two segments, Prescription Medications and Medical Devices. The company develops H100, a novel and patented topical formulation candidate for the treatment of acute Peyronie's disease.
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