VYNE Therapeutics Inc. (NASDAQ:VYNE – Get Free Report) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 85,600 shares, an increase of 590.3% from the March 15th total of 12,400 shares. Approximately 0.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 125,900 shares, the short-interest ratio is currently 0.7 days.
Hedge Funds Weigh In On VYNE Therapeutics
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HRT Financial LP bought a new position in VYNE Therapeutics during the first quarter valued at approximately $31,000. Susquehanna International Group LLP raised its position in VYNE Therapeutics by 9.3% during the first quarter. Susquehanna International Group LLP now owns 18,012 shares of the company’s stock valued at $55,000 after acquiring an additional 1,528 shares in the last quarter. Renaissance Technologies LLC raised its position in VYNE Therapeutics by 41.0% during the second quarter. Renaissance Technologies LLC now owns 36,076 shares of the company’s stock valued at $148,000 after acquiring an additional 10,495 shares in the last quarter. Northern Trust Corp bought a new position in VYNE Therapeutics during the fourth quarter valued at approximately $86,000. Finally, Vanguard Group Inc. raised its position in VYNE Therapeutics by 10.4% during the fourth quarter. Vanguard Group Inc. now owns 49,582 shares of the company’s stock valued at $116,000 after acquiring an additional 4,687 shares in the last quarter. Institutional investors own 83.78% of the company’s stock.
VYNE Therapeutics Stock Performance
VYNE stock opened at $3.00 on Friday. The stock has a market cap of $42.30 million, a P/E ratio of -0.43 and a beta of 1.23. The firm has a 50 day simple moving average of $2.38 and a 200 day simple moving average of $2.70. VYNE Therapeutics has a 52 week low of $1.67 and a 52 week high of $8.73.
Analyst Ratings Changes
Separately, HC Wainwright restated a “buy” rating and set a $5.75 price objective on shares of VYNE Therapeutics in a research report on Thursday, February 29th.
Read Our Latest Stock Report on VYNE
VYNE Therapeutics Company Profile
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-BET inhibitor soft drug to address diseases involving multiple, diverse inflammatory cell signaling pathways with low systemic exposure.
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