Short Interest in Menlo Therapeutics Inc (NASDAQ:MNLO) Grows By 44.1%

Menlo Therapeutics Inc (NASDAQ:MNLO) was the target of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 109,800 shares, an increase of 44.1% from the May 30th total of 76,200 shares. Based on an average daily volume of 57,200 shares, the short-interest ratio is presently 1.9 days. Currently, 0.9% of the company’s stock are short sold.

Several hedge funds have recently added to or reduced their stakes in MNLO. Rhumbline Advisers purchased a new position in shares of Menlo Therapeutics in the 4th quarter worth $48,000. Bank of New York Mellon Corp boosted its stake in shares of Menlo Therapeutics by 51.0% in the 4th quarter. Bank of New York Mellon Corp now owns 38,662 shares of the company’s stock worth $159,000 after buying an additional 13,064 shares during the last quarter. Bank of America Corp DE lifted its position in Menlo Therapeutics by 8.9% during the fourth quarter. Bank of America Corp DE now owns 42,160 shares of the company’s stock valued at $173,000 after purchasing an additional 3,448 shares in the last quarter. Acadian Asset Management LLC lifted its position in Menlo Therapeutics by 18.0% during the first quarter. Acadian Asset Management LLC now owns 42,314 shares of the company’s stock valued at $333,000 after purchasing an additional 6,459 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Menlo Therapeutics by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 84,387 shares of the company’s stock valued at $347,000 after purchasing an additional 3,608 shares in the last quarter. Hedge funds and other institutional investors own 73.95% of the company’s stock.

Shares of MNLO stock traded up $0.21 on Friday, reaching $4.93. The stock had a trading volume of 56,098 shares, compared to its average volume of 68,503. The firm has a market cap of $112.98 million, a PE ratio of -2.08 and a beta of 2.47. Menlo Therapeutics has a 1 year low of $3.74 and a 1 year high of $12.00. The stock’s 50 day simple moving average is $6.11.

Menlo Therapeutics (NASDAQ:MNLO) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.81) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.81). On average, sell-side analysts forecast that Menlo Therapeutics will post -3.37 EPS for the current fiscal year.

Several analysts have commented on the company. Cantor Fitzgerald reiterated a “buy” rating and set a $25.00 target price on shares of Menlo Therapeutics in a research note on Thursday, May 2nd. Zacks Investment Research upgraded HB Fuller from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Menlo Therapeutics presently has an average rating of “Buy” and an average price target of $17.00.

Menlo Therapeutics Company Profile

Menlo Therapeutics Inc, a late-stage biopharmaceutical company, focuses on the development and commercialization of serlopitant for the treatment of pruritus associated with dermatologic conditions in the United States. The company has completed Phase II clinical trials in pruritus associated with prurigo nodularis; psoriasis; chronic pruritus; atopic dermatitis; and refractory chronic cough.

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