PainReform Ltd. (NASDAQ:PRFX) Sees Large Decrease in Short Interest

PainReform Ltd. (NASDAQ:PRFX) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 2,800 shares, a decline of 96.4% from the August 15th total of 77,000 shares. Based on an average daily volume of 277,500 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analysts Forecast Growth

Separately, Maxim Group reissued a “buy” rating and issued a $2.00 price target on shares of PainReform in a research note on Wednesday, June 26th.

PainReform Trading Down 12.6 %

PRFX stock traded down $0.12 on Thursday, hitting $0.83. The company had a trading volume of 428,977 shares, compared to its average volume of 115,194. PainReform has a 12-month low of $0.76 and a 12-month high of $26.59. The stock’s 50-day simple moving average is $0.42 and its 200 day simple moving average is $0.88.

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

Hedge Funds Weigh In On PainReform

A hedge fund recently bought a new stake in PainReform stock. Armistice Capital LLC purchased a new position in PainReform Ltd. (NASDAQ:PRFX) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 170,000 shares of the company’s stock, valued at approximately $468,000. Armistice Capital LLC owned approximately 10.90% of PainReform at the end of the most recent quarter. Hedge funds and other institutional investors own 37.28% of the company’s stock.

PainReform Company Profile

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.