Short Interest in Menlo Therapeutics Inc (NASDAQ:MNLO) Rises By 44.1%

Menlo Therapeutics Inc (NASDAQ:MNLO) was the recipient of a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 109,800 shares, an increase of 44.1% from the May 30th total of 76,200 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily trading volume, of 57,200 shares, the short-interest ratio is currently 1.9 days.

NASDAQ MNLO traded up $0.21 during trading hours on Friday, reaching $4.93. The stock had a trading volume of 56,000 shares, compared to its average volume of 75,009. The company’s fifty day moving average is $6.15. The stock has a market cap of $119.20 million, a PE ratio of -2.08 and a beta of 2.47. Menlo Therapeutics has a 52-week low of $3.74 and a 52-week high of $12.00.

Menlo Therapeutics (NASDAQ:MNLO) last issued its earnings results on Thursday, May 2nd. The company reported ($0.81) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.81). As a group, equities research analysts forecast that Menlo Therapeutics will post -3.37 earnings per share for the current year.

MNLO has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $25.00 target price on shares of Menlo Therapeutics in a research report on Thursday, May 2nd. Zacks Investment Research upgraded HB Fuller from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $17.00.

A number of institutional investors have recently added to or reduced their stakes in MNLO. Rhumbline Advisers purchased a new stake in Menlo Therapeutics in the 4th quarter worth approximately $48,000. Bank of New York Mellon Corp boosted its position in Menlo Therapeutics by 51.0% in the 4th quarter. Bank of New York Mellon Corp now owns 38,662 shares of the company’s stock worth $159,000 after purchasing an additional 13,064 shares in the last quarter. Bank of America Corp DE boosted its position in Menlo Therapeutics by 8.9% in the 4th quarter. Bank of America Corp DE now owns 42,160 shares of the company’s stock worth $173,000 after purchasing an additional 3,448 shares in the last quarter. Acadian Asset Management LLC boosted its position in Menlo Therapeutics by 18.0% in the 1st quarter. Acadian Asset Management LLC now owns 42,314 shares of the company’s stock worth $333,000 after purchasing an additional 6,459 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Menlo Therapeutics by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 84,387 shares of the company’s stock worth $347,000 after purchasing an additional 3,608 shares in the last quarter. Institutional investors and hedge funds own 73.95% of the company’s stock.

Menlo Therapeutics Company Profile

Menlo Therapeutics Inc, a late-stage biopharmaceutical company, focuses on the development and commercialization of serlopitant for the treatment of pruritus associated with dermatologic conditions in the United States. The company has completed Phase II clinical trials in pruritus associated with prurigo nodularis; psoriasis; chronic pruritus; atopic dermatitis; and refractory chronic cough.

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