Nasdaq‘s recent short interest data for the 8/15/2014 settlement date shows a significant increase in short interest for shares of Tekmira Pharmaceuticals Corp (TKMR). As of August 15, ticker’s short interest totaled 2,689,028 shares, as compared to 709,500 shares since July 31, an increase of 279.26%. Average daily volume [AVM] for the same period spiked from 523,254 shares to 9,723,707 shares.
Based on the latest AVM, the days-to-cover ratio — a metric that includes both the total shares short and the average daily volume of shares traded — is currently 1.0 day[s]. Days-to-cover for TKMR decreased only fractionally to 1.0 for the August 15 settlement date, as compared to 1.35 day[s] at the July 31 report.
A number of prominent Wall Street firms have recently weighed in on Tekmira shares. Analysts at Maxim Group maintained their ‘Buy’ rating and a $23.00 price target on the shares of the biotech company in a research report issued to clients on Monday, August 18. Analysts at Leerink Partners also initiated coverage of the firm on the same date, giving it a ‘Outperform’ rating, and price target of $25.00. Separately, analysts at Clarus initiated coverage on the shares of Tekmira giving it a ‘Buy’ rating, and price target of $22.50 in a research note issued to clients on July 31st. Finally, analysts at Stifel Nicolaus maintained a ‘Buy’ rating and a price target of $31.00 on TKMR in a research note issued on May 15th.
Shares of Tekmira Pharmaceuticals Corp, one of the few firms developing a treatment for the deadly Ebola virus, closed at $21.40 on Friday. Ticker has gained more than 294% on a year-over-year basis and 168% year-to-date. TKRM’s low 52 week point is $5.15/share, with $31.48 as the 52 week high point, which is almost 512% above that low price.
Tekmira shares are still far below the all-time high of $31.48 touched in March this year.
The chart below shows where the equity has traded over the last 52 weeks.
Disclosure: No Position