Midatech Pharma plc (NASDAQ:MTP) Sees Large Decline in Short Interest

Midatech Pharma plc (NASDAQ:MTP) was the target of a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 151,400 shares, a drop of 15.7% from the March 31st total of 179,500 shares. Based on an average daily trading volume, of 777,900 shares, the days-to-cover ratio is currently 0.2 days.

Several institutional investors have recently modified their holdings of MTP. Renaissance Technologies LLC lifted its holdings in Midatech Pharma by 18.2% during the 4th quarter. Renaissance Technologies LLC now owns 179,500 shares of the company’s stock worth $336,000 after buying an additional 27,700 shares during the period. Susquehanna International Group LLP lifted its stake in shares of Midatech Pharma by 144.0% in the fourth quarter. Susquehanna International Group LLP now owns 84,695 shares of the company’s stock worth $159,000 after acquiring an additional 49,981 shares during the period. Virtu Financial LLC bought a new stake in Midatech Pharma in the fourth quarter valued at approximately $97,000. Finally, Morgan Stanley acquired a new stake in Midatech Pharma during the 3rd quarter valued at approximately $106,000. 2.27% of the stock is currently owned by institutional investors.

MTP traded up $0.20 during trading on Tuesday, reaching $2.21. 5,834 shares of the company’s stock were exchanged, compared to its average volume of 724,227. Midatech Pharma has a one year low of $1.23 and a one year high of $7.07. The firm has a fifty day moving average price of $2.12 and a two-hundred day moving average price of $2.14.

About Midatech Pharma

Midatech Pharma plc focuses on the research and development of oncology and rare disease products in the United Kingdom, rest of Europe, and internationally. The company is developing MTD201, a long acting dose of Octreotide for the treatment of acromegaly and neuroendocrine tumors; and MTX110, a direct delivery treatment for diffuse intrinsic pontine glioma.

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