Axovant Sciences Limited (NASDAQ:AXON) Shorts Decreased by 7.96% After Short Covering

December 7, 2017 - By Adrian Erickson

 Axovant Sciences Limited (NASDAQ:AXON) Shorts Decreased by 7.96% After Short Covering

The stock of Axovant Sciences Limited (NASDAQ:AXON) registered a decrease of 7.96% in short interest. AXON’s total short interest was 4.55 million shares in December as published by FINRA. Its down 7.96% from 4.94M shares, reported previously. With 1.55M shares average volume, it will take short sellers 3 days to cover their AXON’s short positions. The short interest to Axovant Sciences Limited’s float is 18.83%.

The stock decreased 0.20% or $0.01 during the last trading session, reaching $5.02. About 757,532 shares traded. Axovant Sciences Ltd. (NASDAQ:AXON) has risen 97.46% since December 7, 2016 and is uptrending. It has outperformed by 80.76% the S&P500.

Axovant Sciences Ltd., a clinical-stage biopharmaceutical company, engages in developing and commercializing medicines for the treatment of dementia and related neurological disorders in the United States and Europe. The company has market cap of $540.70 million. The Company’s lead product candidate, intepirdine, a selective 5-HT6 receptor antagonist, which is in Phase III clinical trial for the treatment of AlzheimerÂ’s disease; in Phase IIb clinical trial for treating dementia with Lewy bodies ; and in Phase II clinical trial for treating cait and balance in Alzheimer's disease, DLB, and Parkinson's disease dementia. It currently has negative earnings. The firm is also developing nelotanserin, a selective 5-HT2A receptor inverse agonist, which is in Phase II clinical trial for the treatment of visual hallucinations in patients with Lewy body dementia (LBD) and REM behavior disorder in patients with LBD.

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