Short Interest in Bio-Path Holdings, Inc. (NASDAQ:BPTH) Rises By 284.2%

Bio-Path Holdings, Inc. (NASDAQ:BPTH) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 63,400 shares, a growth of 284.2% from the February 29th total of 16,500 shares. Based on an average trading volume of 21,200 shares, the days-to-cover ratio is presently 3.0 days. Currently, 9.6% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BPTH. Walleye Capital LLC acquired a new position in shares of Bio-Path during the 3rd quarter valued at about $77,000. Vanguard Group Inc. raised its holdings in Bio-Path by 77.5% in the 4th quarter. Vanguard Group Inc. now owns 270,029 shares of the company’s stock valued at $125,000 after buying an additional 117,914 shares during the period. Renaissance Technologies LLC purchased a new stake in Bio-Path in the 2nd quarter valued at about $70,000. Citadel Advisors LLC purchased a new stake in Bio-Path in the 3rd quarter valued at about $35,000. Finally, Virtu Financial LLC purchased a new stake in Bio-Path in the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 5.74% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on BPTH. Roth Mkm lifted their price target on shares of Bio-Path from $12.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com began coverage on shares of Bio-Path in a research note on Saturday, March 23rd. They issued a “sell” rating on the stock.

Bio-Path Stock Up 0.5 %

Shares of BPTH opened at $4.04 on Thursday. Bio-Path has a 52-week low of $3.51 and a 52-week high of $44.80. The firm’s fifty day moving average is $7.08 and its two-hundred day moving average is $8.97.

Bio-Path (NASDAQ:BPTH) last announced its quarterly earnings results on Friday, March 8th. The company reported ($5.40) earnings per share for the quarter, meeting the consensus estimate of ($5.40). During the same quarter last year, the firm posted ($10.60) EPS. As a group, analysts forecast that Bio-Path will post -20.8 EPS for the current year.

Bio-Path Company Profile

Bio-Path Holdings, Inc operates as a clinical and preclinical stage oncology focused RNAi nano particle drug development company in the United States. The company develops products based on DNAbilize, a drug delivery and antisense technology platform that uses P-ethoxy, which is a deoxyribonucleic acid (DNA) backbone modification intended to protect the DNA from destruction.