Bio-Path Stock Surge Shocks Shorts

BPTH has been an attractive target for short sellers this year

Apr 15, 2019 at 10:49 AM
facebook twitter linkedin


The shares of Bio-Path Holdings Inc (NASDAQ:BPTH) jumped more than 34% out of the gate, marking the biotech's first trek above the round $20 mark since April 3. Boosting the shares is Bio-Path's request to the Securities and Exchange Commission (SEC) to withdraw a stock offering, after issuing a prospectus filing in March.

More recently, BPTH stock has accelerated this upside, gaining 53.8% to trade at $24.07, bringing its year-to-date gain to 553%. The shares gapped to an annual high of $73.52 on March 7, thanks to some positive data for the company's experimental cancer drug, but quickly pulled back to the $15.50 region -- site of its 200-day moving average. The equity is now above its 20-day moving average, which briefly served as resistance in late March.

Short sellers are likely feeling the heat during today's surge. Short interest has more than tripled year-to-date, and the 428,405 shares currently sold short represent a healthy 18.1% of BPTH's available float.

 

 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 


 


 
Special Offers from Schaeffer's Trading Partners