Plus Therapeutics, Inc. (NASDAQ:PSTV) Sees Large Decrease in Short Interest

Plus Therapeutics, Inc. (NASDAQ:PSTV) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totaling 1,348,104 shares, a decrease of 94.4% from the March 31st total of 23,932,707 shares. Based on an average trading volume of 925,205 shares, the days-to-cover ratio is currently 1.5 days. Approximately 20.2% of the company’s shares are short sold.

Plus Therapeutics Trading Down 9.3%

PSTV stock traded down $0.68 during trading on Friday, hitting $6.60. The company had a trading volume of 229,844 shares, compared to its average volume of 651,821. Plus Therapeutics has a 52-week low of $2.90 and a 52-week high of $23.42. The company has a 50 day simple moving average of $6.20 and a 200-day simple moving average of $10.55.

Plus Therapeutics (NASDAQ:PSTV) last posted its quarterly earnings results on Thursday, March 12th. The company reported $6.25 EPS for the quarter, topping the consensus estimate of ($0.03) by $6.28. The company had revenue of $1.37 million during the quarter, compared to analysts’ expectations of $1.23 million. On average, research analysts anticipate that Plus Therapeutics will post -3.66 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. D. Boral Capital reissued a “hold” rating on shares of Plus Therapeutics in a research note on Tuesday, March 31st. Ascendiant Capital Markets reduced their price target on shares of Plus Therapeutics from $475.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price target (down from $50.00) on shares of Plus Therapeutics in a research note on Friday, January 23rd. Lake Street Capital started coverage on shares of Plus Therapeutics in a research note on Tuesday, February 3rd. They issued a “buy” rating and a $50.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Plus Therapeutics in a research note on Tuesday. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $58.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSTV. Jane Street Group LLC bought a new position in Plus Therapeutics during the 2nd quarter worth about $41,000. Susquehanna International Group LLP bought a new position in Plus Therapeutics during the 3rd quarter worth about $46,000. Scientech Research LLC bought a new position in Plus Therapeutics during the 3rd quarter worth about $100,000. XTX Topco Ltd bought a new position in Plus Therapeutics during the 4th quarter worth about $127,000. Finally, State Street Corp grew its holdings in Plus Therapeutics by 37.1% during the 4th quarter. State Street Corp now owns 468,893 shares of the company’s stock worth $240,000 after acquiring an additional 127,000 shares in the last quarter. 3.28% of the stock is currently owned by institutional investors.

About Plus Therapeutics

Plus Therapeutics is a clinical‐stage biopharmaceutical company specializing in the development of targeted radiotherapeutics for oncology. Its platform technologies leverage nanoliposomes and microspheres to deliver therapeutic radioisotopes directly to tumor sites. The company’s lead candidate, 90Y-HP-DO3A, is in Phase 2 development for recurrent high-grade gliomas, while its rhenium-based nanoliposome program is under investigation for diffuse intrinsic pontine glioma and brain metastases.

The pipeline also includes investigational treatments for bone metastases, malignant pleural effusions and other hard-to-treat solid tumors.