PainReform Ltd. (NASDAQ:PRFX) Sees Significant Growth in Short Interest

PainReform Ltd. (NASDAQ:PRFX) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 54,600 shares, an increase of 232.9% from the March 31st total of 16,400 shares. Currently, 3.0% of the shares of the company are sold short. Based on an average trading volume of 135,900 shares, the days-to-cover ratio is presently 0.4 days.

PainReform Stock Down 3.5 %

NASDAQ:PRFX opened at $0.81 on Friday. PainReform has a 52 week low of $0.69 and a 52 week high of $26.41. The firm’s 50-day simple moving average is $1.66 and its 200 day simple moving average is $2.12.

Hedge Funds Weigh In On PainReform

A hedge fund recently bought a new stake in PainReform stock. Armistice Capital LLC bought a new stake in PainReform Ltd. (NASDAQ:PRFX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 170,000 shares of the company’s stock, valued at approximately $468,000. Armistice Capital LLC owned 10.90% of PainReform as of its most recent SEC filing. 37.28% of the stock is owned by hedge funds and other institutional investors.

About PainReform

PainReform Ltd., a clinical stage specialty pharmaceutical company, focuses on the reformulation of established therapeutics and provides an extended period of post-surgical pain relief in Israel. It develops PRF-110, a viscous clear oil-based solution that is instilled directly into the surgical wound to provide localized and extended post-operative analgesia, as well as in Phase 3 clinical trial for pain treatment of patients undergoing bunionectomy and second trial for pain treatment of hernia repair operations.