Short Interest in Fusion Pharmaceuticals Inc. (NASDAQ:FUSN) Increases By 17.0%
Fusion Pharmaceuticals Inc. (NASDAQ:FUSN – Get Free Report) saw a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 107,900 shares, a growth of 17.0% from the November 15th total of 92,200 shares. Based on an average daily volume of 220,000 shares, the days-to-cover ratio is presently 0.5 days.
Wall Street Analysts Forecast Growth
FUSN has been the topic of several analyst reports. Oppenheimer initiated coverage on shares of Fusion Pharmaceuticals in a research note on Thursday, September 28th. They issued an “outperform” rating and a $13.00 price target on the stock. Raymond James decreased their price objective on shares of Fusion Pharmaceuticals from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Monday, August 28th. B. Riley reiterated a “buy” rating and issued a $13.00 price objective on shares of Fusion Pharmaceuticals in a report on Tuesday, October 3rd. Finally, Wedbush reiterated an “outperform” rating and issued a $13.00 price objective on shares of Fusion Pharmaceuticals in a report on Tuesday, November 7th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $12.20.
Read Our Latest Analysis on Fusion Pharmaceuticals
Fusion Pharmaceuticals Price Performance
NASDAQ:FUSN traded down $0.25 during trading hours on Friday, reaching $5.25. 758,534 shares of the company’s stock were exchanged, compared to its average volume of 200,845. The company has a market capitalization of $380.15 million, a P/E ratio of -3.22 and a beta of -1.10. Fusion Pharmaceuticals has a 12 month low of $2.31 and a 12 month high of $5.93. The company has a quick ratio of 11.63, a current ratio of 11.63 and a debt-to-equity ratio of 0.18. The business’s 50-day simple moving average is $4.55 and its two-hundred day simple moving average is $3.93.
Fusion Pharmaceuticals (NASDAQ:FUSN – Get Free Report) last issued its earnings results on Tuesday, November 7th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.15. The firm had revenue of $2.01 million during the quarter, compared to analysts’ expectations of $0.41 million. Fusion Pharmaceuticals had a negative net margin of 4,136.55% and a negative return on equity of 48.42%. Sell-side analysts expect that Fusion Pharmaceuticals will post -1.47 EPS for the current fiscal year.
Hedge Funds Weigh In On Fusion Pharmaceuticals
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC acquired a new position in Fusion Pharmaceuticals in the 2nd quarter worth approximately $29,000. Schonfeld Strategic Advisors LLC acquired a new position in Fusion Pharmaceuticals in the 1st quarter worth approximately $49,000. Renaissance Technologies LLC acquired a new position in Fusion Pharmaceuticals in the 3rd quarter worth approximately $51,000. Citadel Advisors LLC acquired a new position in Fusion Pharmaceuticals in the 3rd quarter worth approximately $86,000. Finally, Forefront Analytics LLC boosted its stake in Fusion Pharmaceuticals by 67.8% in the 3rd quarter. Forefront Analytics LLC now owns 33,685 shares of the company’s stock worth $88,000 after purchasing an additional 13,610 shares during the period. Institutional investors and hedge funds own 72.85% of the company’s stock.
About Fusion Pharmaceuticals (Get Free Report)
Fusion Pharmaceuticals Inc, a clinical-stage oncology company, focuses on developing radiopharmaceuticals as precision medicines in Canada and the United States. Its lead product candidates include FPI-2265 that is in Phase 2 clinical trial to treat prostate-specific membrane antigens; and FPI-1434 that is in Phase 1 clinical trial as a monotherapy in patients with solid tumors expressing insulin-like growth factor 1 receptor.
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Original: MarketBeat News Feed: Short Interest in Fusion Pharmaceuticals Inc. (NASDAQ:FUSN) Increases By 17.0%