Egalet Corporation (NASDAQ:EGLT) has witnessed a drop of 2.7% or 42,051 shares in its short figure. The short interest diminution took it from 1,572,003 on May 31,2016 to 1,529,952 on June 15,2016. In terms of floated shares, the short interest was calculated to be 12.7%. The days to cover are 29 given that the daily volume averaged 52,782 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Egalet Corporation (NASDAQ:EGLT): The stock opened at $5.31 on Friday but the bulls could not build on the opening and the stock topped out at $5.32 for the day. The stock traded down to $4.57 during the day, due to lack of any buying support eventually closed down at $4.75 with a loss of -15.33% for the day. The stock had closed at $5.61 on the previous day. The total traded volume was 2,129,950 shares.
The company shares have dropped -69.49% from its 1 Year high price. On Sep 18, 2015, the shares registered one year high at $16.59 and the one year low was seen on Jun 21, 2016. The 50-Day Moving Average price is $5.38 and the 200 Day Moving Average price is recorded at $7.37.
Stocks of Egalet Corporation (NASDAQ:EGLT) rallied by 3.49% during the past week but lost 16.08% on a 4-week basis. The company has outperformed the S&P 500 by 5.2% in the past week but underperformed the index by 13.54% in the last 4 weeks.
Egalet Corporation is a specialty pharmaceutical company developing, manufacturing and commercializing medicines for patients with acute and chronic pain. The Companys products include OXAYDO and SPRIX Nasal Spray. OXAYDO is the immediate-release oxycodone product formulated to deter abuse via snorting, for the management of acute and chronic moderate to severe pain where an opioid is appropriate. SPRIX Nasal Spray is the nasal spray formulation of non-steroidal anti-inflammatory drug (NSAID), ketorolac, used for short-term management of moderate to moderately severe pain that requires analgesia at the opioid level. The Company is developing two late-stage product candidates using Guardian Technology. The lead program, Egalet-001 is an abuse-deterrent, extended-release, oral morphine formulation, and Egalet-002 is an abuse-deterrent, extended-release, oral oxycodone formulation.