Short Interest in DURECT Co. (NASDAQ:DRRX) Decreases By 6.9%

DURECT Co. (NASDAQ:DRRX) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 809,100 shares, a drop of 6.9% from the January 15th total of 868,800 shares. Based on an average trading volume of 103,200 shares, the days-to-cover ratio is presently 7.8 days. Approximately 2.9% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

DRRX has been the topic of several recent analyst reports. HC Wainwright restated a “neutral” rating on shares of DURECT in a research note on Thursday, November 14th. StockNews.com began coverage on DURECT in a report on Saturday. They set a “sell” rating for the company.

Hedge Funds Weigh In On DURECT

Several institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC boosted its holdings in shares of DURECT by 266.0% during the 4th quarter. Jane Street Group LLC now owns 39,196 shares of the specialty pharmaceutical company’s stock worth $29,000 after buying an additional 28,486 shares during the period. Geode Capital Management LLC raised its holdings in DURECT by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 319,905 shares of the specialty pharmaceutical company’s stock valued at $429,000 after acquiring an additional 14,658 shares during the period. Finally, Richmond Brothers Inc. lifted its position in DURECT by 12.2% during the fourth quarter. Richmond Brothers Inc. now owns 1,281,176 shares of the specialty pharmaceutical company’s stock worth $961,000 after acquiring an additional 138,920 shares during the last quarter. 28.03% of the stock is currently owned by institutional investors and hedge funds.

DURECT Stock Performance

DRRX opened at $0.77 on Wednesday. The stock’s fifty day simple moving average is $0.83 and its 200 day simple moving average is $1.12. DURECT has a 1-year low of $0.70 and a 1-year high of $1.88.

DURECT Company Profile

DURECT Corporation, a biopharmaceutical company, develops medicines based on its epigenetic regulator program. The company's lead product larsucosterol (DUR-928), an endogenous, orally bioavailable small molecule that is in Phase IIb clinical trial to play a regulatory role in lipid metabolism, stress and inflammatory responses, and cell death and survival to treat alcohol-associated hepatitis, as well as completed Phase Ib clinical trial to treat patients with nonalcoholic steatohepatitis.