Lpath (LPTN) : Traders are negative on Lpath (LPTN), as it has 3% of short positions outstanding compared to its float. The total shorts have reduced by -4,477 shares, which is a -6.2% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,72,086 to 67,609 shares. While the daily trading volume of the stock is 55,131, there are 1 days remaining to cover the open short positions. The short interest indicates that the traders dont see a large downside in the stock from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Lpath (NASDAQ:LPTN): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $2.60 and $2.50 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $3.10. The buying momentum continued till the end and the stock did not give up its gains. It closed at $2.83, notching a gain of 5.60% for the day. The total traded volume was 1,434,227 . The stock had closed at $2.68 on the previous day.
Lpath, Inc. is a biotechnology company. The Company is focused on the discovery and development of lipidomic-based therapeutic antibodies. The Company has three product candidates, which include iSONEP, ASONEP and Lpathomab. The Company utilizes ImmuneY2 technology for the production of its antibodies. iSONEP is the ocular formulation of sonepcizumab, a humanized monoclonal antibody (mAb) against sphingosine-1-phosphate (S1P), a bioactive lipid implicated in the progression of many diseases. ASONEP is the systemic formulation of sonepcizuma, a mAb against S1P, a validated angiogenic factor and validated mediator of lymphocyte trafficking. Lpathomab is a mAb against lysophosphatidic acid (LPA), a tumorigenic and metastatic agent and a validated contributor to neuropathic pain.