Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) Sees Large Increase in Short Interest

Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) was the recipient of a significant growth in short interest in February. As of February 15th, there was short interest totalling 216,200 shares, a growth of 601.9% from the January 31st total of 30,800 shares. Currently, 24.0% of the company’s shares are sold short. Based on an average daily volume of 2,130,000 shares, the short-interest ratio is currently 0.1 days.

Lipella Pharmaceuticals Price Performance

LIPO traded down $0.25 during trading on Thursday, reaching $2.94. The company had a trading volume of 68,421 shares, compared to its average volume of 3,526,201. Lipella Pharmaceuticals has a 12 month low of $2.21 and a 12 month high of $12.00. The business’s fifty day moving average price is $3.15 and its 200 day moving average price is $3.18. The company has a market cap of $3.55 million, a P/E ratio of -0.69 and a beta of 0.28.

Institutional Investors Weigh In On Lipella Pharmaceuticals

A hedge fund recently bought a new stake in Lipella Pharmaceuticals stock. Virtu Financial LLC purchased a new position in shares of Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,310 shares of the company’s stock, valued at approximately $41,000. Virtu Financial LLC owned approximately 1.10% of Lipella Pharmaceuticals at the end of the most recent reporting period. 74.31% of the stock is currently owned by 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).