In November, short interest in Eiger BioPharmaceuticals, Inc. (NASDAQ: EIGR) significantly decreased. Short interest decreased by 8.2% from 1,820,000 shares as of October 31 to 1,670,000 as of November 15—a total of 1,820,000 shares. Based on an average trading volume of 344,200 shares, the days-to-cover ratio is currently 4.9 days.
Several institutional investors and hedge funds recently modified the amount of EIGR they were holding. 683 Capital Management LLC increased its stake in Eiger BioPharmaceuticals by 12.0% during the third quarter. After acquiring an additional 464,751 shares in the most recent quarter, 683 Capital Management LLC now owns 4,329,751 shares with a market value of $32,603,000.State Street Corp. increased its stake in Eiger BioPharmaceuticals by 26.7% during the second quarter. State Street Corp. now directly owns 702,350 shares of the biotechnology company with a $4,425,000 market capitalization after acquiring an additional 148,035 shares in the most recent quarter. Finally, Prudential Financial Inc. increased its stake in Eiger BioPharmaceuticals by 222.4% during the third quarter. Over the last three months, Prudential Financial Inc. has added 1,489,000 shares, or 136,440 shares, to its holdings in the stock of the biotechnology business. EAM Investors LLC invested $1,052,000 in Eiger BioPharmaceuticals shares during the first quarter. In addition, Dimensional Fund Advisors LP increased its stake in Eiger BioPharmaceuticals by 23.2% during the third quarter. Compared to three months ago, Dimensional Fund Advisors LP currently owns 124,754 more shares of the $4,988,000 market cap firm. Currently, hedge funds and institutional investors hold 67.87% of the stock.
EIGR’s stock started trading at $4.53 on Friday. The business has a market cap of $199.64 million, a PE ratio of 1.88, and a beta of 1.39. The company’s debt-to-equity ratio is 0, its quick ratio is 5, its current ratio is 5, and its current ratio is 5.45. The company’s fifty-day simple moving average is $5.28, and its two-hundred-day simple moving average is $6.73. Over the past year, Eiger BioPharmaceuticals’ prices have ranged from $3.53 to $10.02.
Several research companies have provided their perspectives on EIGR. Eiger BioPharmaceuticals’ “hold” recommendation was changed to a “sell” on Friday, November 4. On September 7, BTIG Research withdrew its “buy” rating for Eiger BioPharmaceuticals and lowered its price objective from $57 to $48,000.
Eiger BioPharmaceuticals, Inc. is a commercial-stage biopharmaceutical company specializing in developing and international distribution of specialized drugs for uncommon and ultra-rare diseases. The company’s top product candidate is lonafarnib, an orally bioavailable small molecule being studied in Phase III clinical research to treat hepatitis delta virus infection.
Read More: Update on Short Interest for Eiger BioPharmaceuticals, Inc. (NASDAQ:EIGR)