Short Interest in Angion Biomedica Corp. (NASDAQ:ANGN) Drops By 9.5%

Angion Biomedica Corp. (NASDAQ:ANGNGet Rating) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 71,500 shares, a drop of 9.5% from the August 15th total of 79,000 shares. Based on an average daily volume of 153,000 shares, the short-interest ratio is presently 0.5 days. Approximately 0.4% of the shares of the stock are short sold.

Analyst Ratings Changes

Several research analysts have commented on the stock. HC Wainwright downgraded shares of Angion Biomedica from a “buy” rating to a “neutral” rating in a report on Monday, July 18th. Oppenheimer downgraded shares of Angion Biomedica from an “outperform” rating to a “market perform” rating in a report on Thursday, June 30th. Finally, Stifel Nicolaus downgraded shares of Angion Biomedica from a “buy” rating to a “hold” rating in a report on Thursday, June 30th.

Angion Biomedica Stock Down 7.8 %

Shares of NASDAQ:ANGN opened at $1.06 on Monday. The company’s fifty day moving average is $1.05 and its 200 day moving average is $1.46. Angion Biomedica has a 52 week low of $0.98 and a 52 week high of $11.36. The stock has a market cap of $31.92 million, a PE ratio of -1.45 and a beta of 0.71.

Angion Biomedica (NASDAQ:ANGNGet Rating) last announced its quarterly earnings results on Monday, August 15th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.16. Angion Biomedica had a negative net margin of 81.45% and a negative return on equity of 35.45%. Sell-side analysts anticipate that Angion Biomedica will post -1.64 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Qube Research & Technologies Ltd purchased a new stake in Angion Biomedica during the fourth quarter valued at approximately $33,000. Acadian Asset Management LLC bought a new position in shares of Angion Biomedica during the fourth quarter worth $39,000. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Angion Biomedica during the first quarter worth $71,000. Valeo Financial Advisors LLC lifted its position in Angion Biomedica by 169.2% during the first quarter. Valeo Financial Advisors LLC now owns 63,659 shares of the company’s stock valued at $135,000 after purchasing an additional 40,008 shares during the last quarter. Finally, Park West Asset Management LLC bought a new position in Angion Biomedica during the second quarter valued at $86,000. 22.43% of the stock is owned by hedge funds and other institutional investors.

Angion Biomedica Company Profile

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Angion Biomedica Corp., a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule therapeutics for acute organ injuries and fibrotic diseases. The company's lead product candidate is ANG-3070, an oral tyrosine kinase receptor inhibitor in development as a treatment for fibrotic diseases, primarily in the kidney and lung.

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