Wellington Management Group Llp Marginally Raises Its Stake in Flexion Therapeutics (FLXN) Last Quarter

Flexion Therapeutics (NASDAQ:FLXN).

Wellington Management Group Llp reports that it raised its stake in Flexion Therapeutics shares by 1.9% in a 13F filing with the SEC. Its stake was worth $15,924,000 an increase of 21.8% according to the filing.

These firms have modified their investment in FLXN. California State Teachers Retirement System cut its position by shedding 4,747 shares a decrease of 9.7% in the quarter. California State Teachers Retirement System now controls 44,366 shares with a value of $1,073,000. The value of the position overall is up by 8.1%. As of quarter end Alliancebernstein L.p. had disposed of a total of 12,500 shares trimming its position 28.0%. The value of the investment in FLXN decreased from $902,000 to $776,000 a change of 14.0% quarter over quarter.

As of the end of the quarter Citigroup Inc had sold 6,170 shares trimming its holdings by 65.6%. The value of the investment in (FLXN) went from $190,000 to $78,000 decreasing 58.9% quarter to quarter.

On October 30, 2017 Wells Fargo & Company released a research note on FLXN with a rating of “Buy” and establishing a price target of $39.00. Equity analyst Royal Bank Of Canada released guidance on FLXN stating a rating of “Buy” and price target of $44.00.

Equity analyst Janney Montgomery Scott raised the price target of the stock on October 10 boosting the projection from $0.00 to $570.00 and issued a “Fair Value” rating. On October 10 Laidlaw left the company rating at “Buy” targeting a price of $38.00.

October 9 investment analysts at BMO Capital Markets maintained a company rating of “Outperform” projecting a price of $37.00. Needham & Company LLC raised the price target on October 9 changing the forecast from $36.00 to $42.00 and stated a “Buy” rating.

The company is so far trading down from yesterday’s close of 23.48. The P/E ratio is N/A and the market cap is 821.50M. In the latest earnings report the EPS was $-3.52 with 37.54M shares now outstanding.

Investors are more bearish lately as shown by the increase in short interest. The stock realized a rise in short interest of 25.20% between September 29, 2017 and October 13, 2017. Short interest grew 1,667,461 over that timeframe. The days to cover decreased to 2.0 and the percentage of shorted shares is 0.22% as of October 13.