Insider Selling: Medicus Pharma Ltd. (NASDAQ:MDCX) Major Shareholder Sells 75,000 Shares of Stock

Medicus Pharma Ltd. (NASDAQ:MDCX) major shareholder Velocity Fund Partners, Lp sold 75,000 shares of the company’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $7.72, for a total value of $579,000.00. Following the completion of the transaction, the insider now owns 3,248,741 shares of the company’s stock, valued at $25,080,280.52. The trade was a 2.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Medicus Pharma Trading Up 3.0%

Shares of NASDAQ:MDCX opened at $7.29 on Friday. The company has a fifty day moving average of $4.37. Medicus Pharma Ltd. has a fifty-two week low of $1.80 and a fifty-two week high of $8.94.

Medicus Pharma (NASDAQ:MDCX) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.19). As a group, research analysts predict that Medicus Pharma Ltd. will post -1.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MDCX shares. Maxim Group upped their target price on Medicus Pharma from $10.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. D Boral Capital upgraded Medicus Pharma to a “strong-buy” rating in a research note on Monday, April 14th. D. Boral Capital restated a “buy” rating and issued a $27.00 target price on shares of Medicus Pharma in a research note on Thursday. Finally, Wall Street Zen lowered Medicus Pharma from a “hold” rating to a “sell” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, two have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $23.50.

Institutional Trading of Medicus Pharma

A number of large investors have recently bought and sold shares of the stock. Private Advisor Group LLC bought a new stake in Medicus Pharma in the first quarter valued at $211,000. Interchange Capital Partners LLC grew its position in Medicus Pharma by 14.0% in the first quarter. Interchange Capital Partners LLC now owns 1,661,871 shares of the company’s stock valued at $6,182,000 after acquiring an additional 204,706 shares during the period. Finally, Armistice Capital LLC bought a new stake in Medicus Pharma in the first quarter valued at $4,710,000.

Medicus Pharma Company Profile

Medicus Pharma Ltd is a biotech/life sciences company focused on accelerating the clinical development programs of novel and disruptive therapeutics assets. Medicus Pharma Ltd is based in Toronto, Ontario.