Rexahn Pharmaceuticals, Inc. (NYSEMKT:RNN) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 2,106,770 shares, an increase of 28.0% from the October 13th total of 1,645,486 shares. Based on an average daily volume of 673,912 shares, the days-to-cover ratio is currently 3.1 days. Approximately 6.8% of the shares of the stock are sold short.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Rexahn Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a research note on Friday. HC Wainwright reaffirmed a “buy” rating and set a $19.50 price target on shares of Rexahn Pharmaceuticals in a research note on Monday, November 6th. ValuEngine raised shares of Rexahn Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 2nd. Seaport Global Securities reaffirmed a “buy” rating and set a $13.00 price target on shares of Rexahn Pharmaceuticals in a research note on Friday, October 6th. Finally, Ifs Securities reaffirmed an “outperform” rating on shares of Rexahn Pharmaceuticals in a research note on Monday, August 7th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Rexahn Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $13.65.
Institutional investors and hedge funds have recently made changes to their positions in the company. Sabby Management LLC purchased a new stake in shares of Rexahn Pharmaceuticals in the second quarter valued at $706,000. Renaissance Technologies LLC raised its stake in shares of Rexahn Pharmaceuticals by 17.6% in the first quarter. Renaissance Technologies LLC now owns 5,758,391 shares of the company’s stock valued at $2,937,000 after acquiring an additional 862,000 shares during the period. Susquehanna International Group LLP purchased a new stake in shares of Rexahn Pharmaceuticals in the second quarter valued at $2,905,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Rexahn Pharmaceuticals in the third quarter valued at $119,000.
Shares of Rexahn Pharmaceuticals (RNN) traded down $0.05 on Monday, hitting $2.04. 441,781 shares of the stock traded hands, compared to its average volume of 761,540. Rexahn Pharmaceuticals has a 1-year low of $0.38 and a 1-year high of $7.10.
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Rexahn Pharmaceuticals Company Profile
Rexahn Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company engaged in the discovery, development and commercialization of treatments for cancer. The Company’s clinical-stage drug candidates in active development include Archexin, RX-3117 and Supinoxin (RX-5902). Archexin is a potent inhibitor of the protein kinase Akt-1, which focuses on cancer cell proliferation, survival, angiogenesis, metastasis and drug resistance.
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