Menlo Therapeutics Inc (NASDAQ:MNLO) Short Interest Up 39.8% in August

Menlo Therapeutics Inc (NASDAQ:MNLO) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 147,100 shares, a growth of 39.8% from the July 31st total of 105,200 shares. Approximately 1.2% of the shares of the stock are sold short. Based on an average daily volume of 54,600 shares, the short-interest ratio is currently 2.7 days.

A number of institutional investors and hedge funds have recently bought and sold shares of MNLO. Geode Capital Management LLC grew its stake in Menlo Therapeutics by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 84,387 shares of the company’s stock valued at $347,000 after acquiring an additional 3,608 shares in the last quarter. Bank of America Corp DE grew its stake in Menlo Therapeutics by 8.9% during the fourth quarter. Bank of America Corp DE now owns 42,160 shares of the company’s stock valued at $173,000 after acquiring an additional 3,448 shares in the last quarter. Spark Investment Management LLC grew its stake in Menlo Therapeutics by 10.7% during the first quarter. Spark Investment Management LLC now owns 50,242 shares of the company’s stock valued at $394,000 after acquiring an additional 4,842 shares in the last quarter. Acadian Asset Management LLC grew its stake in Menlo Therapeutics by 18.0% during the first quarter. Acadian Asset Management LLC now owns 42,314 shares of the company’s stock valued at $333,000 after acquiring an additional 6,459 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Menlo Therapeutics by 28.2% during the second quarter. Wells Fargo & Company MN now owns 30,136 shares of the company’s stock valued at $180,000 after acquiring an additional 6,622 shares in the last quarter. 76.54% of the stock is owned by institutional investors.

Several analysts have recently commented on MNLO shares. Zacks Investment Research downgraded shares of Menlo Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. ValuEngine upgraded shares of Menlo Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.

Shares of MNLO stock traded up $0.08 on Friday, hitting $5.32. 17,257 shares of the stock traded hands, compared to its average volume of 68,001. The firm has a market cap of $124.80 million, a price-to-earnings ratio of -2.24 and a beta of 2.16. Menlo Therapeutics has a 52 week low of $2.69 and a 52 week high of $12.00. The firm has a 50 day simple moving average of $4.16 and a two-hundred day simple moving average of $6.15.

Menlo Therapeutics (NASDAQ:MNLO) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.69) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.84) by $0.15. Analysts forecast that Menlo Therapeutics will post -3.19 earnings per share for the current fiscal year.

About Menlo Therapeutics

Menlo Therapeutics Inc, a late-stage biopharmaceutical company, focuses on the development and commercialization of serlopitant for the treatment of pruritus associated with dermatologic conditions in the United States. The company has completed Phase II clinical trials in pruritus associated with prurigo nodularis; psoriasis; chronic pruritus; atopic dermatitis; and refractory chronic cough.

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