Lipocine Inc. (NASDAQ:LPCN) Sees Significant Drop in Short Interest

Lipocine Inc. (NASDAQ:LPCN) was the recipient of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 60,100 shares, a decline of 20.1% from the October 31st total of 75,200 shares. Based on an average daily volume of 30,700 shares, the short-interest ratio is presently 2.0 days. Currently, 1.2% of the shares of the company are sold short.

Institutional Investors Weigh In On Lipocine

A hedge fund recently raised its stake in Lipocine stock. Renaissance Technologies LLC boosted its holdings in shares of Lipocine Inc. (NASDAQ:LPCN) by 21.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,697 shares of the specialty pharmaceutical company’s stock after acquiring an additional 4,600 shares during the period. Renaissance Technologies LLC owned 0.48% of Lipocine worth $212,000 at the end of the most recent reporting period. 9.11% of the stock is currently owned by hedge funds and other institutional investors.

Lipocine Stock Up 2.0 %

Shares of NASDAQ LPCN traded up $0.09 during midday trading on Friday, hitting $4.54. The stock had a trading volume of 14,628 shares, compared to its average volume of 45,965. The stock has a 50 day simple moving average of $5.08 and a 200-day simple moving average of $5.62. The company has a market capitalization of $24.28 million, a PE ratio of -5.97 and a beta of 1.18. Lipocine has a 1 year low of $2.38 and a 1 year high of $11.79.

Lipocine (NASDAQ:LPCN) last posted its quarterly earnings data on Thursday, November 7th. The specialty pharmaceutical company reported ($0.44) EPS for the quarter. As a group, analysts expect that Lipocine will post -0.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LPCN has been the topic of several recent analyst reports. Alliance Global Partners began coverage on shares of Lipocine in a research note on Tuesday, September 24th. They set a “buy” rating and a $10.00 target price on the stock. StockNews.com started coverage on shares of Lipocine in a research note on Saturday. They set a “hold” rating for the company.

Lipocine Company Profile

Lipocine Inc, a clinical-stage biopharmaceutical company, engages in the research and development for the delivery of drugs for the treatment of central nervous system (CNS) disorders. Its lead product candidate is TLANDO, an oral testosterone replacement therapy (TRT) comprising testosterone undecanoate.