Aceragen, Inc. (NASDAQ:ACGN) Sees Large Increase in Short Interest

Posted by on Jun 15th, 2023

Aceragen, Inc. (NASDAQ:ACGN – Get Rating) was the recipient of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 114,300 shares, a growth of 25.1% from the May 15th total of 91,400 shares. Currently, 4.1% of the shares of the company are sold short. Based on an average daily volume of 290,500 shares, the days-to-cover ratio is currently 0.4 days.

Aceragen Price Performance

Shares of NASDAQ:ACGN opened at $1.72 on Thursday. The company has a market cap of $14.48 million, a P/E ratio of -0.32 and a beta of 1.13. The company has a fifty day simple moving average of $1.88. Aceragen has a 1 year low of $1.31 and a 1 year high of $16.00.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Aceragen during the 1st quarter valued at $58,000. Geode Capital Management LLC purchased a new position in shares of Aceragen during the 1st quarter valued at $53,000. Finally, State Street Corp purchased a new position in shares of Aceragen during the 1st quarter valued at $27,000. Institutional investors own 12.18% of the company’s stock.

Aceragen Company Profile

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Aceragen, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for rare pulmonary and rheumatic diseases in the United States. Its clinical development pipeline includes ACG-701, which is in Phase 2 clinical trial for cystic fibrosis pulmonary exacerbations, as well as for melioidosis; and ACG-801 for farber disease.

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