Short Interest in Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) Declines By 62.9%

Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totalling 20,700 shares, a drop of 62.9% from the March 15th total of 55,800 shares. Based on an average trading volume of 2,080,000 shares, the short-interest ratio is currently 0.0 days. Currently, 1.1% of the company’s shares are sold short.

Lipella Pharmaceuticals Stock Performance

Shares of LIPO stock traded down $0.02 during trading hours on Tuesday, hitting $2.43. 10,941 shares of the company were exchanged, compared to its average volume of 702,058. The company has a 50 day simple moving average of $2.80 and a two-hundred day simple moving average of $2.94. The firm has a market cap of $6.19 million, a P/E ratio of -0.57 and a beta of 0.29. Lipella Pharmaceuticals has a fifty-two week low of $1.97 and a fifty-two week high of $12.00.

Lipella Pharmaceuticals (NASDAQ:LIPO) last posted its quarterly earnings results on Thursday, March 27th. The company reported ($1.19) EPS for the quarter, topping analysts’ consensus estimates of ($2.43) by $1.24. Lipella Pharmaceuticals had a negative net margin of 882.82% and a negative return on equity of 192.33%. The business had revenue of $0.17 million during the quarter.

Institutional Trading of Lipella Pharmaceuticals

A hedge fund recently bought a new stake in Lipella Pharmaceuticals stock. Virtu Financial LLC acquired a new stake in shares of Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,310 shares of the company’s stock, valued at approximately $41,000. Virtu Financial LLC owned approximately 1.10% of Lipella Pharmaceuticals as of its most recent SEC filing. 74.31% of the stock is owned by hedge funds and other institutional investors.

Lipella Pharmaceuticals Company Profile

Lipella Pharmaceuticals Inc, a biotechnology company, focuses on developing drugs by reformulating the active agents in existing generic drugs and optimizing these reformulations for various applications. The company develops LP-10, a formulation of tacrolimus that has completed Phase 2a clinical trial for patients with radiation-induced hemorrhagic cystitis; LP-310, a formulation of tacrolimus for the treatment of oral lichen planus; and LP-410, an oral liposomal formulation of tacrolimus for the treatment of oral graft-versus-host disease (GVHD).