Mayne Pharma Group Limited (OTCMKTS:MAYNF) Sees Large Growth in Short Interest

Mayne Pharma Group Limited (OTCMKTS:MAYNF) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,535,100 shares, a growth of 328.6% from the August 15th total of 358,200 shares. Based on an average trading volume of 32,800 shares, the days-to-cover ratio is presently 46.8 days.

Shares of OTCMKTS MAYNF opened at $0.22 on Wednesday. Mayne Pharma Group has a 12 month low of $0.19 and a 12 month high of $0.42. The stock has a 50 day moving average of $0.23 and a 200-day moving average of $0.27.

Separately, Citigroup upgraded Mayne Pharma Group from a “neutral” rating to a “buy” rating and set a $0.35 target price for the company in a research note on Monday, August 30th.

Mayne Pharma Group Company Profile

Mayne Pharma Group Ltd. engages in the development and manufacture of proprietary and generic products. It operates through the following segments: Generic Products, Specialty Brands, Metrics Contract Services, and Mayne Pharma International. The Generic Products segment involves in the manufacture and distribution of generic and branded pharmaceutical products.

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