Panbela Therapeutics, Inc. (NASDAQ:PBLA) Short Interest Down 59.9% in May

Panbela Therapeutics, Inc. (NASDAQ:PBLA – Get Rating) was the target of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 754,400 shares, a drop of 59.9% from the April 30th total of 1,880,000 shares. Based on an average trading volume of 2,840,000 shares, the days-to-cover ratio is currently 0.3 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PBLA shares. HC Wainwright reissued a “buy” rating on shares of Panbela Therapeutics in a research note on Wednesday, April 26th. Roth Capital started coverage on shares of Panbela Therapeutics in a research note on Tuesday, January 31st. They set a “buy” rating and a $10.00 target price for the company. Finally, Maxim Group raised shares of Panbela Therapeutics from a “hold” rating to a “buy” rating in a research note on Monday, March 20th.

Institutional Trading of Panbela Therapeutics

Hedge funds have recently modified their holdings of the company. Armistice Capital LLC bought a new stake in shares of Panbela Therapeutics during the third quarter valued at approximately $588,000. Sabby Management LLC bought a new stake in shares of Panbela Therapeutics during the first quarter valued at approximately $189,000. CVI Holdings LLC bought a new stake in shares of Panbela Therapeutics during the first quarter valued at approximately $175,000. Hudson Bay Capital Management LP bought a new stake in shares of Panbela Therapeutics during the first quarter valued at approximately $157,000. Finally, Anson Funds Management LP bought a new stake in shares of Panbela Therapeutics during the first quarter valued at approximately $72,000. Institutional investors and hedge funds own 9.37% of the company’s stock.

Panbela Therapeutics Price Performance

NASDAQ:PBLA traded down $0.02 during mid-day trading on Friday, hitting $0.34. The company’s stock had a trading volume of 682,261 shares, compared to its average volume of 2,661,840. Panbela Therapeutics has a fifty-two week low of $0.32 and a fifty-two week high of $64.40. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.65. The company has a market capitalization of $5.64 million, a price-to-earnings ratio of 0.00 and a beta of 2.03. The stock has a fifty day moving average of $0.45 and a 200-day moving average of $0.68.

Panbela Therapeutics (NASDAQ:PBLA – Get Rating) last posted its quarterly earnings results on Thursday, March 16th. The company reported ($5.68) earnings per share (EPS) for the quarter. As a group, equities analysts forecast that Panbela Therapeutics will post -1.4 EPS for the current fiscal year.

Panbela Therapeutics Company Profile

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Panbela Therapeutics, Inc engages in the development of disruptive therapeutics for medical purposes. It focuses on development programs that target diseases of the pancreas, including pancreatic cancer and pancreatitis. The firm’s product candidate, SBP-101, is a proprietary polyamine analogue designed to induce polyamine metabolic inhibition (PMI), a metabolic pathway of critical importance in multiple tumor types.