PainReform Ltd. (NASDAQ:PRFX) Short Interest Up 98.2% in October

PainReform Ltd. (NASDAQ:PRFX) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 121,100 shares, an increase of 98.2% from the October 15th total of 61,100 shares. Based on an average daily volume of 492,800 shares, the short-interest ratio is presently 0.2 days. Currently, 6.2% of the shares of the company are sold short.

Hedge Funds Weigh In On PainReform

A hedge fund recently raised its stake in PainReform stock. Armistice Capital LLC raised its position in PainReform Ltd. (NASDAQ:PRFX) by 76.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 276,000 shares of the company’s stock after buying an additional 120,000 shares during the period. Armistice Capital LLC owned approximately 13.60% of PainReform worth $132,000 at the end of the most recent quarter. Institutional investors own 37.28% of the company’s stock.

PainReform Stock Up 3.2 %

NASDAQ:PRFX traded up $0.02 during trading hours on Wednesday, reaching $0.58. 170,977 shares of the stock were exchanged, compared to its average volume of 163,945. PainReform has a twelve month low of $0.43 and a twelve month high of $20.16. The business has a 50-day moving average of $0.66 and a two-hundred day moving average of $0.58.

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

Analyst Ratings Changes

Separately, Maxim Group reiterated a “hold” rating on shares of PainReform in a research report on Thursday, October 24th.

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.