PainReform Ltd. (NASDAQ:PRFX) Short Interest Up 2,221.4% in September

PainReform Ltd. (NASDAQ:PRFX) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totalling 65,000 shares, an increase of 2,221.4% from the August 31st total of 2,800 shares. Based on an average trading volume of 376,300 shares, the days-to-cover ratio is presently 0.2 days. Currently, 17.4% of the company’s stock are short sold.

PainReform Trading Up 1.2 %

PRFX stock traded up $0.01 during trading on Wednesday, hitting $0.62. The stock had a trading volume of 127,736 shares, compared to its average volume of 146,956. PainReform has a 1-year low of $0.57 and a 1-year high of $23.25. The company’s 50 day moving average price is $0.46 and its two-hundred day moving average price is $0.80.

PainReform (NASDAQ:PRFX) last issued its earnings results on Thursday, August 15th. The company reported ($0.40) earnings per share (EPS) for the quarter.

Analysts Set New Price Targets

Separately, Maxim Group reaffirmed a “buy” rating and issued a $2.00 target price on shares of PainReform in a report on Wednesday, June 26th.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in PainReform stock. Armistice Capital LLC acquired a new stake in PainReform Ltd. (NASDAQ:PRFX) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 170,000 shares of the company’s stock, valued at approximately $468,000. Armistice Capital LLC owned approximately 10.90% of PainReform as of its most recent filing with the SEC. 37.28% of the stock is currently owned by institutional investors and hedge funds.

About PainReform

PainReform Ltd., a clinical stage specialty pharmaceutical company, focuses on the reformulation of established therapeutics and provides an extended period of post-surgical pain relief in Israel. It develops PRF-110, a viscous clear oil-based solution that is instilled directly into the surgical wound to provide localized and extended post-operative analgesia, as well as in Phase 3 clinical trial for pain treatment of patients undergoing bunionectomy and second trial for pain treatment of hernia repair operations.