Lexicon Pharmaceuticals (LXRX) : 24 days before expiry, shorts in Lexicon Pharmaceuticals (LXRX) have reduced from 13,245,073 on Jul 29, 2016, to 12,708,257 on August 15, 2016. On an average, 537,447 shares are traded on the exchange. The outstanding bearish positions are equal to 12.5% of the float. Short sellers have covered -536,816 shares, a reduction of -4.1%, which underlines that they dont expect the stock to fall further from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Lexicon Pharmaceuticals (NASDAQ:LXRX): The stock opened at $15.41 on Wednesday but the bulls could not build on the opening and the stock topped out at $15.64 for the day. The stock traded down to $14.41 during the day, due to lack of any buying support eventually closed down at $14.52 with a loss of -6.02% for the day. The stock had closed at $15.45 on the previous day. The total traded volume was 799,711 shares.
In a related news, The Securities and Exchange Commission has divulged that Tessmer James F, officer (VP, Finance & Accounting) of Lexicon Pharmaceuticals, Inc., had unloaded 1,500 shares at an average price of $15 in a transaction dated on June 6, 2016. The total value of the transaction was worth $22,500.
Lexicon Pharmaceuticals, Inc. (Lexicon) is a biopharmaceutical company. The Company is focused on the development of treatments for human disease. The Company is engaged in the development of two drug candidates: telotristat etiprate (LX1032) and sotagliflozin (LX4211). The Companys telotristat etiprate is an orally delivered small molecule drug candidate, as a treatment for carcinoid syndrome. It has completed two Phase II clinical trials and is conducting a single Phase III clinical trial of telotristat etiprate in carcinoid syndrome patients. The Companys sotagliflozin is an orally delivered small molecule drug candidate, as a treatment for type 1 and type 2 diabetes. The Company has completed two Phase II clinical trials of sotagliflozin in type 2 diabetes patients and an additional clinical trial of sotagliflozin in type 2 diabetes patients with renal impairment. It has also completed a Phase II clinical trial of sotagliflozin in type 1 diabetes patients.