PDS Biotechnology Co. (NASDAQ:PDSB) Sees Significant Decline in Short Interest

PDS Biotechnology Co. (NASDAQ:PDSB) was the target of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 3,860,000 shares, a decrease of 17.3% from the February 28th total of 4,670,000 shares. Based on an average daily volume of 614,400 shares, the days-to-cover ratio is currently 6.3 days. Currently, 11.4% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, HC Wainwright reduced their price objective on PDS Biotechnology from $21.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, PDS Biotechnology currently has an average rating of “Moderate Buy” and a consensus price target of $9.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PDSB. Geode Capital Management LLC grew its position in PDS Biotechnology by 9.8% in the 3rd quarter. Geode Capital Management LLC now owns 415,113 shares of the company’s stock valued at $1,586,000 after buying an additional 37,142 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of PDS Biotechnology during the 4th quarter valued at $89,000. XTX Topco Ltd raised its stake in shares of PDS Biotechnology by 241.8% in the 3rd quarter. XTX Topco Ltd now owns 67,182 shares of the company’s stock worth $257,000 after buying an additional 47,528 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of PDS Biotechnology by 273.5% in the fourth quarter. Two Sigma Investments LP now owns 65,732 shares of the company’s stock valued at $107,000 after buying an additional 48,132 shares during the period. Finally, Jane Street Group LLC bought a new position in PDS Biotechnology during the fourth quarter valued at about $58,000. 26.84% of the stock is owned by institutional investors and hedge funds.

PDS Biotechnology Stock Performance

NASDAQ PDSB traded up $0.08 on Wednesday, hitting $1.16. The stock had a trading volume of 256,147 shares, compared to its average volume of 526,006. The company’s 50-day moving average is $1.39 and its two-hundred day moving average is $2.12. PDS Biotechnology has a one year low of $1.06 and a one year high of $4.42. The stock has a market cap of $44.11 million, a price-to-earnings ratio of -1.00 and a beta of 1.68. The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 0.55.

PDS Biotechnology (NASDAQ:PDSB) last issued its quarterly earnings data on Thursday, March 27th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.08. On average, analysts expect that PDS Biotechnology will post -1.2 earnings per share for the current year.

PDS Biotechnology Company Profile

PDS Biotechnology Corporation, a clinical-stage biopharmaceutical company, developing a pipeline of targeted cancer immunotherapies in the United States. The company's lead product candidate is PDS0101 (HPV16), which is in Phase II clinical trial provides a first line treatment for the recurrent/metastatic head and neck cancer, and human papillomavirus associated malignancies.