Lipocine Inc. (NASDAQ:LPCN) Sees Large Decline in Short Interest

Lipocine Inc. (NASDAQ:LPCN) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 48,500 shares, a decrease of 21.0% from the December 15th total of 61,400 shares. Currently, 0.9% of the shares of the company are short sold. Based on an average daily trading volume, of 29,800 shares, the days-to-cover ratio is presently 1.6 days.

Lipocine Stock Performance

Shares of LPCN traded up $0.13 during midday trading on Wednesday, hitting $4.73. 28,934 shares of the company traded hands, compared to its average volume of 29,776. Lipocine has a 52 week low of $3.20 and a 52 week high of $11.79. The firm has a 50 day moving average of $4.94 and a 200-day moving average of $5.05. The stock has a market cap of $25.30 million, a price-to-earnings ratio of -6.22 and a beta of 1.23.

Lipocine (NASDAQ:LPCN) last released its quarterly earnings results on Thursday, November 7th. The specialty pharmaceutical company reported ($0.44) earnings per share for the quarter. Sell-side analysts predict that Lipocine will post -0.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lipocine

An institutional investor recently raised its position in Lipocine stock. Renaissance Technologies LLC lifted its holdings in Lipocine Inc. (NASDAQ:LPCN) by 21.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,697 shares of the specialty pharmaceutical company’s stock after buying an additional 4,600 shares during the period. Renaissance Technologies LLC owned about 0.48% of Lipocine worth $212,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 9.11% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on LPCN shares. Alliance Global Partners started coverage on Lipocine in a report on Tuesday, September 24th. They issued a “buy” rating and a $10.00 target price on the stock. StockNews.com initiated coverage on shares of Lipocine in a research note on Thursday, January 9th. They set a “hold” rating on the stock.

Lipocine Company Profile

Lipocine Inc, a clinical-stage biopharmaceutical company, engages in the research and development for the delivery of drugs for the treatment of central nervous system (CNS) disorders. Its lead product candidate is TLANDO, an oral testosterone replacement therapy (TRT) comprising testosterone undecanoate.