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.
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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