Short Interest in Tharimmune, Inc. (NASDAQ:THAR) Grows By 943.0%

Tharimmune, Inc. (NASDAQ:THAR) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 644,600 shares, a growth of 943.0% from the August 15th total of 61,800 shares. Based on an average trading volume of 9,660,000 shares, the short-interest ratio is presently 0.1 days. Currently, 35.4% of the company’s shares are short sold. Currently, 35.4% of the company’s shares are short sold. Based on an average trading volume of 9,660,000 shares, the short-interest ratio is presently 0.1 days.

Tharimmune Stock Performance

Shares of NASDAQ THAR opened at $3.13 on Friday. The business’s 50 day moving average price is $2.57 and its 200-day moving average price is $1.81. Tharimmune has a fifty-two week low of $0.95 and a fifty-two week high of $9.08. The company has a market cap of $17.81 million, a price-to-earnings ratio of -0.51 and a beta of 1.56.

Tharimmune (NASDAQ:THAR) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.06).

Insider Activity at Tharimmune

In other Tharimmune news, CEO Sireesh Appajosyula purchased 61,496 shares of Tharimmune stock in a transaction dated Friday, June 20th. The shares were purchased at an average cost of $1.48 per share, for a total transaction of $91,014.08. Following the completion of the acquisition, the chief executive officer owned 64,868 shares in the company, valued at $96,004.64. This represents a 1,823.72% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Gravitas Capital Lp purchased 337,838 shares of Tharimmune stock in a transaction dated Friday, June 20th. The stock was acquired at an average price of $1.48 per share, for a total transaction of $500,000.24. Following the completion of the acquisition, the chairman owned 732,424 shares of the company’s stock, valued at approximately $1,083,987.52. This trade represents a 85.62% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 400,334 shares of company stock worth $592,464. Company insiders own 10.01% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Tharimmune stock. Franklin Resources Inc. purchased a new position in Tharimmune, Inc. (NASDAQ:THAR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 45,000 shares of the company’s stock, valued at approximately $88,000. Franklin Resources Inc. owned about 1.07% of Tharimmune at the end of the most recent quarter. 1.16% of the stock is currently owned by institutional investors and hedge funds.

About Tharimmune

Tharimmune, Inc, a clinical-stage biotechnology company, engages in the development of therapeutic candidates for rare, inflammatory, and oncologic diseases. The company's pre-clinical immuno-oncology pipeline includes TH104, a product candidate for the treatment of liver-related and other pruritogenic inflammatory conditions; TH3215 and TH0059 that are product candidates used to treat various solid tumors; and TH1940, which targets programmed cell death protein 1 (PD-1).