Short Interest in PainReform Ltd. (NASDAQ:PRFX) Decreases By 56.2%

PainReform Ltd. (NASDAQ:PRFX) was the target of a large decline in short interest in June. As of June 30th, there was short interest totalling 52,200 shares, a decline of 56.2% from the June 15th total of 119,100 shares. Currently, 2.7% of the company’s stock are sold short. Based on an average trading volume of 248,400 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of PainReform

An institutional investor recently bought a new position in PainReform stock. Armistice Capital LLC bought a new stake in PainReform Ltd. (NASDAQ:PRFX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 170,000 shares of the company’s stock, valued at approximately $468,000. Armistice Capital LLC owned approximately 10.90% of PainReform as of its most recent SEC filing. 37.28% of the stock is currently owned by hedge funds and other institutional investors.

PainReform Trading Down 2.4 %

Shares of PRFX traded down $0.01 during mid-day trading on Friday, reaching $0.49. 67,066 shares of the stock traded hands, compared to its average volume of 132,785. The stock has a fifty day simple moving average of $0.64 and a 200 day simple moving average of $1.47. PainReform has a 12-month low of $0.43 and a 12-month high of $16.81.

PainReform (NASDAQ:PRFX) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($2.72) earnings per share (EPS) for the quarter.

Analyst Upgrades and Downgrades

Separately, Maxim Group reiterated a “buy” rating and set a $2.00 target price on shares of PainReform in a report on Wednesday, June 26th.

About PainReform

PainReform Ltd., a clinical stage specialty pharmaceutical company, focuses on the reformulation of established therapeutics and provides an extended period of post-surgical pain relief in Israel. It develops PRF-110, a viscous clear oil-based solution that is instilled directly into the surgical wound to provide localized and extended post-operative analgesia, as well as in Phase 3 clinical trial for pain treatment of patients undergoing bunionectomy and second trial for pain treatment of hernia repair operations.