180 Life Sciences Corp. (NASDAQ:ATNF) Sees Large Drop in Short Interest

180 Life Sciences Corp. (NASDAQ:ATNF) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 144,800 shares, a drop of 77.1% from the August 15th total of 632,100 shares. Based on an average daily volume of 313,200 shares, the short-interest ratio is currently 0.5 days. Approximately 2.6% of the shares of the stock are sold short.

180 Life Sciences Price Performance

Shares of NASDAQ ATNF traded up $0.01 during mid-day trading on Friday, reaching $0.58. The company’s stock had a trading volume of 13,880 shares, compared to its average volume of 1,221,366. The firm has a market capitalization of $3.09 million, a PE ratio of 0.23 and a beta of 0.55. The stock has a fifty day moving average of $0.80 and a two-hundred day moving average of $1.24. 180 Life Sciences has a 52 week low of $0.51 and a 52 week high of $18.00.

180 Life Sciences (NASDAQ:ATNF) last released its quarterly earnings data on Tuesday, August 15th. The company reported ($0.70) earnings per share for the quarter.

Institutional Investors Weigh In On 180 Life Sciences

Several institutional investors and hedge funds have recently modified their holdings of the stock. Susquehanna International Group LLP boosted its holdings in shares of 180 Life Sciences by 31.9% during the 4th quarter. Susquehanna International Group LLP now owns 20,829 shares of the company’s stock valued at $71,000 after purchasing an additional 5,036 shares during the last quarter. Engineers Gate Manager LP boosted its holdings in shares of 180 Life Sciences by 63.7% during the 1st quarter. Engineers Gate Manager LP now owns 23,087 shares of the company’s stock valued at $60,000 after purchasing an additional 8,984 shares during the last quarter. State Street Corp increased its stake in 180 Life Sciences by 14.0% in the 1st quarter. State Street Corp now owns 73,587 shares of the company’s stock worth $191,000 after acquiring an additional 9,061 shares during the last quarter. Two Sigma Investments LP bought a new stake in 180 Life Sciences in the 1st quarter worth approximately $25,000. Finally, Cubist Systematic Strategies LLC bought a new stake in 180 Life Sciences in the 1st quarter worth approximately $42,000. Institutional investors own 4.07% of the company’s stock.

180 Life Sciences Company Profile

180 Life Sciences Corp., a clinical stage biotechnology company, focuses on developing therapeutics for unmet medical needs in chronic pain, inflammation, fibrosis, and other inflammatory diseases. The company product development platforms includes fibrosis and anti-tumor necrosis factor (anti-TNF) platform, which has completed Phase IIb clinical trials that focuses on fibrosis and anti-TNF; Synthetic Cannabidiol (CBD) Analogs platform, which are synthetic pharmaceutical grade molecules close or distant analogs of non-psychoactive cannabinoids, such as CBD for the treatment of inflammatory diseases and pain; and a7nAChR platform, an immune suppressive, which is under preclinical trails that focuses on alpha 7 nicotinic acetylcholine receptor.