Short Interest in Milestone Pharmaceuticals Inc. (NASDAQ:MIST) Grows By 120.2%

Milestone Pharmaceuticals Inc. (NASDAQ:MIST) was the recipient of a significant increase in short interest in the month of March. As of March 13th, there was short interest totalling 26,200 shares, an increase of 120.2% from the February 27th total of 11,900 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 97,800 shares, the days-to-cover ratio is presently 0.3 days.

Shares of NASDAQ:MIST traded up $0.11 during midday trading on Thursday, reaching $2.06. The company’s stock had a trading volume of 3,319,000 shares, compared to its average volume of 398,076. Milestone Pharmaceuticals has a fifty-two week low of $1.69 and a fifty-two week high of $27.95. The company has a market capitalization of $41.75 million and a P/E ratio of -0.10. The business’s fifty day simple moving average is $18.11 and its 200-day simple moving average is $18.50.

Milestone Pharmaceuticals (NASDAQ:MIST) last announced its earnings results on Friday, March 6th. The company reported ($0.75) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.52) by ($0.23). Equities analysts predict that Milestone Pharmaceuticals will post -2.78 earnings per share for the current year.

In other news, major shareholder Rtw Investments, Lp bought 2,705 shares of Milestone Pharmaceuticals stock in a transaction that occurred on Wednesday, March 18th. The stock was purchased at an average cost of $10.36 per share, with a total value of $28,023.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders purchased 295,476 shares of company stock valued at $4,951,944.

A hedge fund recently raised its stake in Milestone Pharmaceuticals stock. Millennium Management LLC increased its position in Milestone Pharmaceuticals Inc. (NASDAQ:MIST) by 76.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,704 shares of the company’s stock after purchasing an additional 10,255 shares during the quarter. Millennium Management LLC owned approximately 0.10% of Milestone Pharmaceuticals worth $410,000 as of its most recent SEC filing. Institutional investors own 58.56% of the company’s stock.

Several research analysts recently commented on MIST shares. Zacks Investment Research raised Milestone Pharmaceuticals from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Tuesday, March 17th. Jefferies Financial Group cut Milestone Pharmaceuticals from a “buy” rating to a “hold” rating and reduced their target price for the stock from $28.00 to $3.00 in a research report on Tuesday. Piper Sandler cut Milestone Pharmaceuticals from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $26.50 to $3.00 in a research report on Tuesday. Cowen reiterated a “buy” rating and set a $32.00 price objective on shares of Milestone Pharmaceuticals in a research note on Friday, February 21st. Finally, BidaskClub lowered Milestone Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, March 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $20.93.

About Milestone Pharmaceuticals

Milestone Pharmaceuticals Inc, a biopharmaceutical company, develops and commercializes drugs for the treatment of cardiovascular indications. It offers Etripamil that completed Phase 2 clinical trial for the treatment of paroxysmal supraventricular tachycardia in the United States and Canada, as well as for treating Atrial Fibrillation and Angina.

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