Vistagen Therapeutics Stock Jumps on Fresh Coverage

The stock is still in penny stock territory

Laura McCandless

Deputy Editor

Nov 14, 2023 at 11:13 AM

VTGN

Vistagen Therapeutics Inc (NASDAQ:VTGN) stock is enjoying quite the boost today, after Stifel initiated coverage with a "buy" rating and $12 price target. Now, the only two analysts in coverage are firmly bullish. At last check, VTGN was up 15.4% at $3.15.

On the charts, VTGN slipped back into penny stock territory at the start of October. Though today's pop has the shares breaking into positive territory for the year, recent pressure at their 30-day moving average is keeping a cap on gains.

It's also worth noting that shorts have been piling on Vistagen stock. Short interest jumped 85.1% in the last month, and now represents 5.7% of the stock's available float. And though options activity is still pretty sparse, the equity is seeing seven times the intraday average call volume today.

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