Short Interest in Rexahn Pharmaceuticals, Inc. (RNN) Declines By 51.7%

Rexahn Pharmaceuticals, Inc. (NYSEAMERICAN:RNN) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 884,004 shares, a decrease of 51.7% from the October 15th total of 1,830,062 shares. Based on an average trading volume of 451,248 shares, the short-interest ratio is currently 2.0 days. Currently, 2.8% of the company’s stock are short sold.

A number of research analysts have recently commented on the company. Ifs Securities raised Rexahn Pharmaceuticals from an “outperform” rating to a “strong-buy” rating in a report on Thursday, October 4th. B. Riley set a $8.00 price objective on Rexahn Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, October 2nd. HC Wainwright set a $20.00 price objective on Rexahn Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, September 25th. Finally, Zacks Investment Research lowered Rexahn Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 16th.

An institutional investor recently raised its position in Rexahn Pharmaceuticals stock. Northern Trust Corp boosted its holdings in shares of Rexahn Pharmaceuticals, Inc. (NYSEAMERICAN:RNN) by 61.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,213 shares of the company’s stock after purchasing an additional 29,354 shares during the quarter. Northern Trust Corp owned about 0.24% of Rexahn Pharmaceuticals worth $117,000 at the end of the most recent quarter.

Shares of NYSEAMERICAN RNN traded down $0.01 during mid-day trading on Friday, reaching $1.17. 50,404 shares of the company traded hands, compared to its average volume of 268,351. Rexahn Pharmaceuticals has a fifty-two week low of $1.03 and a fifty-two week high of $2.70.

Rexahn Pharmaceuticals (NYSEAMERICAN:RNN) last issued its quarterly earnings data on Monday, November 5th. The company reported ($0.17) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.17).

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Rexahn Pharmaceuticals Company Profile

Rexahn Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, discovers, develops, and commercializes treatments for cancer. The company's clinical stage drug candidates include RX-3117, which is in Phase II a clinical trial for the treatment of patients with relapsed or refractory pancreatic cancer and advanced bladder cancer; and Supinoxin that is in Phase II a clinical study to treat patients with metastatic triple negative breast cancer.

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