Flexion Therapeutics Inc (NASDAQ:FLXN) was the recipient of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 10,518,815 shares, a decrease of 3.7% from the July 13th total of 10,922,687 shares. Approximately 33.3% of the company’s stock are short sold. Based on an average daily trading volume, of 387,639 shares, the short-interest ratio is currently 27.1 days.
In other Flexion Therapeutics news, insider Neil Bodick sold 50,000 shares of the stock in a transaction that occurred on Tuesday, July 3rd. The stock was sold at an average price of $25.07, for a total transaction of $1,253,500.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO David Arkowitz purchased 4,000 shares of the stock in a transaction on Thursday, August 9th. The shares were bought at an average price of $23.42 per share, for a total transaction of $93,680.00. Following the acquisition, the chief financial officer now owns 44,250 shares of the company’s stock, valued at $1,036,335. The disclosure for this purchase can be found here. Corporate insiders own 14.59% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System grew its stake in shares of Flexion Therapeutics by 22.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 15,896 shares of the specialty pharmaceutical company’s stock worth $411,000 after acquiring an additional 2,960 shares during the last quarter. Redmile Group LLC lifted its position in Flexion Therapeutics by 33.5% in the second quarter. Redmile Group LLC now owns 13,260 shares of the specialty pharmaceutical company’s stock worth $343,000 after purchasing an additional 3,330 shares during the period. Swiss National Bank lifted its position in Flexion Therapeutics by 7.1% in the first quarter. Swiss National Bank now owns 51,311 shares of the specialty pharmaceutical company’s stock worth $1,150,000 after purchasing an additional 3,400 shares during the period. Alps Advisors Inc. lifted its position in Flexion Therapeutics by 8.5% in the second quarter. Alps Advisors Inc. now owns 54,622 shares of the specialty pharmaceutical company’s stock worth $1,412,000 after purchasing an additional 4,272 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its position in Flexion Therapeutics by 3.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 179,658 shares of the specialty pharmaceutical company’s stock worth $4,645,000 after purchasing an additional 5,257 shares during the period. Institutional investors and hedge funds own 98.22% of the company’s stock.
Shares of Flexion Therapeutics stock opened at $22.71 on Wednesday. The firm has a market capitalization of $868.25 million, a PE ratio of -5.43 and a beta of 0.76. The company has a debt-to-equity ratio of 0.80, a quick ratio of 12.78 and a current ratio of 12.90. Flexion Therapeutics has a 1 year low of $19.06 and a 1 year high of $32.25.
Flexion Therapeutics (NASDAQ:FLXN) last announced its quarterly earnings data on Tuesday, August 7th. The specialty pharmaceutical company reported ($1.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.22) by $0.06. The company had revenue of $3.80 million during the quarter, compared to analyst estimates of $3.96 million. sell-side analysts anticipate that Flexion Therapeutics will post -4.75 earnings per share for the current year.
Flexion Therapeutics Company Profile
Flexion Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of anti-inflammatory and analgesic therapies for the treatment of patients with musculoskeletal conditions. It lead product candidate includes Zilretta, an intra-articular injection for the management of osteoarthritis (OA) pain of the knee.
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