Short Interest in Impel Pharmaceuticals Inc. (NASDAQ:IMPL) Declines By 12.7%

Impel Pharmaceuticals Inc. (NASDAQ:IMPL) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 505,100 shares, a drop of 12.7% from the August 15th total of 578,800 shares. Currently, 6.5% of the company’s stock are short sold. Based on an average daily volume of 875,100 shares, the days-to-cover ratio is currently 0.6 days.

Impel Pharmaceuticals Trading Down 11.9 %

Shares of NASDAQ IMPL traded down $0.08 during mid-day trading on Tuesday, reaching $0.57. The company had a trading volume of 243,347 shares, compared to its average volume of 570,142. Impel Pharmaceuticals has a 52-week low of $0.29 and a 52-week high of $7.39. The stock has a market cap of $13.42 million, a P/E ratio of -0.17 and a beta of 0.06. The firm has a 50 day simple moving average of $0.97 and a two-hundred day simple moving average of $1.27.

Impel Pharmaceuticals (NASDAQ:IMPL) last posted its earnings results on Friday, August 18th. The company reported ($0.31) EPS for the quarter. The firm had revenue of $6.58 million during the quarter. On average, equities analysts expect that Impel Pharmaceuticals will post -3.4 EPS for the current year.

Institutional Investors Weigh In On Impel Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its position in Impel Pharmaceuticals by 746.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 10,245 shares of the company’s stock valued at $50,000 after purchasing an additional 9,035 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Impel Pharmaceuticals by 19.8% during the first quarter. Goldman Sachs Group Inc. now owns 12,801 shares of the company’s stock worth $82,000 after buying an additional 2,114 shares during the period. Jane Street Group LLC purchased a new position in shares of Impel Pharmaceuticals during the fourth quarter worth about $49,000. Citadel Advisors LLC acquired a new position in Impel Pharmaceuticals in the 3rd quarter valued at about $64,000. Finally, Raymond James & Associates purchased a new stake in Impel Pharmaceuticals during the 4th quarter valued at approximately $54,000. Hedge funds and other institutional investors own 73.88% of the company’s stock.

Impel Pharmaceuticals Company Profile

Impel Pharmaceuticals Inc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of therapies for patients suffering from central nervous system disease in the United States. Its lead product candidate is Trudhesa, an upper nasal formulation of dihydroergotamine for the acute treatment of migraine.