Short Interest in Bio-Path Holdings, Inc. (NASDAQ:BPTH) Drops By 16.6%

Bio-Path Holdings, Inc. (NASDAQ:BPTH) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 46,100 shares, a drop of 16.6% from the August 15th total of 55,300 shares. Based on an average daily volume of 426,100 shares, the days-to-cover ratio is currently 0.1 days. Approximately 1.8% of the shares of the stock are sold short.

Bio-Path Trading Down 4.6 %

Shares of BPTH traded down $0.05 during midday trading on Wednesday, hitting $1.00. 44,048 shares of the stock were exchanged, compared to its average volume of 998,313. Bio-Path has a 52-week low of $0.91 and a 52-week high of $21.60. The stock has a fifty day simple moving average of $1.41 and a 200 day simple moving average of $2.57.

Bio-Path (NASDAQ:BPTH) last released its earnings results on Thursday, August 15th. The company reported ($1.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.38. During the same period in the previous year, the business earned ($10.60) earnings per share. On average, equities analysts expect that Bio-Path will post -6.2 earnings per share for the current year.

Institutional Trading of Bio-Path

A hedge fund recently bought a new stake in Bio-Path stock. Armistice Capital LLC acquired a new stake in shares of Bio-Path Holdings, Inc. (NASDAQ:BPTH) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 97,000 shares of the company’s stock, valued at approximately $194,000. Armistice Capital LLC owned about 4.66% of Bio-Path as of its most recent SEC filing. 5.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Roth Mkm reissued a “buy” rating and set a $20.00 target price on shares of Bio-Path in a research note on Monday, July 8th.

About Bio-Path

Bio-Path Holdings, Inc operates as a clinical and preclinical stage oncology focused RNAi nanoparticle 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.