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

PainReform Ltd. (NASDAQ:PRFX) was the target of a large decrease in short interest in November. As of November 15th, there was short interest totalling 29,100 shares, a decrease of 76.0% from the October 31st total of 121,100 shares. Based on an average daily trading volume, of 904,100 shares, the days-to-cover ratio is presently 0.0 days. Currently, 5.2% of the company’s stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in PainReform stock. Armistice Capital LLC raised its stake in PainReform Ltd. (NASDAQ:PRFX) by 76.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 276,000 shares of the company’s stock after purchasing an additional 120,000 shares during the period. Armistice Capital LLC owned 13.60% of PainReform worth $132,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 37.28% of the company’s stock.

PainReform Stock Performance

NASDAQ:PRFX traded up $0.03 during trading hours on Wednesday, reaching $2.75. The company’s stock had a trading volume of 178,981 shares, compared to its average volume of 268,438. The stock has a 50 day moving average price of $2.61 and a two-hundred day moving average price of $2.28. The company has a market capitalization of $398,750.00, a P/E ratio of -0.02 and a beta of 0.56. PainReform has a 12 month low of $1.73 and a 12 month high of $80.64.

Wall Street Analyst Weigh In

Separately, Maxim Group reiterated a “hold” rating on shares of PainReform in a report on Thursday, October 24th.

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.