VYNE Therapeutics Inc. (NASDAQ:VYNE – Get Free Report) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totalling 58,200 shares, a growth of 75.8% from the September 15th total of 33,100 shares. Based on an average daily volume of 43,200 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.5% of the company’s stock are sold short.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright reiterated a “buy” rating and issued a $5.75 price objective on shares of VYNE Therapeutics in a research note on Thursday, September 12th.
Read Our Latest Stock Report on VYNE Therapeutics
VYNE Therapeutics Stock Performance
VYNE Therapeutics (NASDAQ:VYNE – Get Free Report) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.03). VYNE Therapeutics had a negative net margin of 5,849.18% and a negative return on equity of 43.11%. The firm had revenue of $0.20 million during the quarter, compared to the consensus estimate of $0.11 million. As a group, sell-side analysts forecast that VYNE Therapeutics will post -0.86 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the business. Eventide Asset Management LLC bought a new stake in VYNE Therapeutics in the fourth quarter worth $3,249,000. Virtu Financial LLC acquired a new stake in shares of VYNE Therapeutics in the first quarter worth about $50,000. Parkman Healthcare Partners LLC bought a new stake in shares of VYNE Therapeutics during the 4th quarter worth about $1,623,000. Finally, Lynx1 Capital Management LP acquired a new position in shares of VYNE Therapeutics during the 2nd quarter valued at about $32,000. Institutional investors and hedge funds own 83.78% of the company’s stock.
About VYNE Therapeutics
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- bromodomain and extra-terminal (BET) inhibitor soft drug to address diseases involving multiple, diverse inflammatory cell signaling pathways with low systemic exposure.
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