Short Interest in PainReform Ltd. (NASDAQ:PRFX) Increases By 232.9%

PainReform Ltd. (NASDAQ:PRFX) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 54,600 shares, a growth of 232.9% from the March 31st total of 16,400 shares. Based on an average daily volume of 135,900 shares, the short-interest ratio is presently 0.4 days. Currently, 3.0% of the shares of the company are short sold.

PainReform Stock Performance

NASDAQ:PRFX opened at $0.84 on Friday. PainReform has a 52 week low of $0.69 and a 52 week high of $26.41. The stock’s 50-day moving average price is $1.69 and its 200-day moving average price is $2.14.

Institutional Investors Weigh In On PainReform

A hedge fund recently bought a new stake in PainReform stock. Armistice Capital LLC bought a new stake in shares of PainReform Ltd. (NASDAQ:PRFX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 170,000 shares of the company’s stock, valued at approximately $468,000. Armistice Capital LLC owned 10.90% of PainReform as of its most recent SEC filing. 37.28% of the stock is currently owned by hedge funds and other institutional investors.

About PainReform

PainReform Ltd., a clinical stage specialty pharmaceutical company, focuses on the reformulation of established therapeutics and provides an extended period of post-surgical pain relief in Israel. It develops PRF-110, a viscous clear oil-based solution that is instilled directly into the surgical wound to provide localized and extended post-operative analgesia, as well as in Phase 3 clinical trial for pain treatment of patients undergoing bunionectomy and second trial for pain treatment of hernia repair operations.