VYNE Therapeutics Inc. (NASDAQ:VYNE) Sees Large Decline in Short Interest

VYNE Therapeutics Inc. (NASDAQ:VYNE) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 46,500 shares, a decline of 20.0% from the August 15th total of 58,100 shares. Based on an average daily volume of 52,900 shares, the short-interest ratio is presently 0.9 days. Currently, 0.4% of the company’s stock are sold short.

VYNE Therapeutics Trading Up 2.8 %

NASDAQ VYNE opened at $1.84 on Friday. The firm’s fifty day simple moving average is $1.90 and its two-hundred day simple moving average is $2.24. The firm has a market capitalization of $26.73 million, a P/E ratio of -0.34 and a beta of 1.40. VYNE Therapeutics has a 12-month low of $1.57 and a 12-month high of $4.48.

VYNE Therapeutics (NASDAQ:VYNE) last announced its earnings results on Wednesday, August 14th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.03). VYNE Therapeutics had a negative return on equity of 43.11% and a negative net margin of 5,849.18%. The business had revenue of $0.20 million for the quarter, compared to analysts’ expectations of $0.11 million. As a group, sell-side analysts predict that VYNE Therapeutics will post -0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On VYNE Therapeutics

Several hedge funds have recently modified their holdings of the stock. Parkman Healthcare Partners LLC acquired a new position in VYNE Therapeutics during the 4th quarter valued at approximately $1,623,000. Eventide Asset Management LLC acquired a new position in shares of VYNE Therapeutics in the 4th quarter valued at $3,249,000. Virtu Financial LLC acquired a new position in shares of VYNE Therapeutics in the 1st quarter valued at $50,000. Finally, Lynx1 Capital Management LP acquired a new stake in VYNE Therapeutics during the 2nd quarter worth about $32,000. Institutional investors and hedge funds own 83.78% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and set a $5.75 price target on shares of VYNE Therapeutics in a research report on Thursday.

About VYNE Therapeutics

VYNE Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing proprietary and therapeutics for the treatment of immuno-inflammatory conditions. The company's lead product is VYN201, a locally administered pan- bromodomain and extra-terminal (BET) inhibitor soft drug to address diseases involving multiple, diverse inflammatory cell signaling pathways with low systemic exposure.