Lipocine (NASDAQ:LPCN) reported a rise of 30.3% or 428,879 shares in its short interest. The short figure came in at 12.3% of the total floats. The average daily volume of 343,625 shares suggests that the days to cover 1,845,910 short positions, as on June 15,2016, will be 5. On May 31,2016, the short interest was 1,417,031 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Lipocine (NASDAQ:LPCN): The stock opened at $6.90 on Friday but the bulls could not build on the opening and the stock topped out at $7.15 for the day. The stock traded down to $6.70 during the day, due to lack of any buying support eventually closed down at $6.88 with a loss of -4.31% for the day. The stock had closed at $7.19 on the previous day. The total traded volume was 2,074,304 shares.
The company shares have dropped -15.69% from its 1 Year high price. On Sep 9, 2015, the shares registered one year high at $19.23 and the one year low was seen on Jun 20, 2016. The 50-Day Moving Average price is $8.14 and the 200 Day Moving Average price is recorded at $10.07.
Lipocine (NASDAQ:LPCN) has tumbled 2.13% during the past week and has dropped 24.15% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 0.51%. Lipocine (NASDAQ:LPCN) has underperformed the index by 21.85% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Lipocine Inc. is a specialty pharmaceutical company. The Company is focused on applying its oral drug delivery technology for the development of pharmaceutical products in the area of mens and womens health. The companys primary development programs are based on oral delivery solutions for bioavailable drugs. The company has a portfolio of product candidates designed to produce pharmacokinetic characteristics and facilitate lower dosing requirements, bypass first-pass metabolism, reduce side effects, and eliminate gastrointestinal interactions that limit bioavailability. The Companys lead product candidate, LPCN 1021, is an oral testosterone replacement therapy (TRT), designed for twice-a-day dosing and is in Phase III testing. Additional pipeline candidates include LPCN 1111, an oral testosterone therapy product targeted for once daily dosing, which is in Phase II testing, and LPCN 1107, an oral therapy for the prevention of preterm birth, which is in Phase I testing.