Aditxt, Inc. (NASDAQ:ADTX) reported a significant rise in short interest as of October 15, 2023. Short interest reached 760,300 shares, reflecting a striking increase of **119.4%** from the prior total of **346,600 shares** on September 30. With an average daily trading volume of **2,260,000 shares**, the days-to-cover ratio is currently **0.3 days**, indicating a notable percentage of **15.3%** of the company’s total shares are short sold.
This surge in short interest comes as Aditxt’s stock price continues to struggle. On October 27, the stock opened at **$0.06**, marking a **12.6%** decline. The company has experienced considerable volatility over the past year, with a twelve-month low of **$0.05** and a high of **$146.30**. Aditxt currently holds a market capitalization of **$295,812** and has a price-to-earnings (P/E) ratio of **0.00**, with a beta of **1.48**. The fifty-day moving average stands at **$0.73**, while the 200-day moving average is at **$1.24**.
In a significant development, Aditxt plans to execute a **1-for-113** reverse stock split on November 3, 2023. This move was announced on October 29, and the adjustment will take place after the market closes on October 31. Shareholders will see their number of shares reduced correspondingly.
Institutional Activity and Analyst Sentiments
Recent institutional activity indicates a mixed outlook for Aditxt. Notably, IFP Advisors Inc. raised its stake in Aditxt by an astonishing **66,926.7%** during the first quarter, according to its latest Form 13F filing with the U.S. Securities and Exchange Commission (SEC). The institutional investor now holds **10,054 shares**, having purchased an additional **10,039 shares** during the period, representing approximately **17.64%** of Aditxt, valued at **$45,000** as of the latest filing. Overall, hedge funds and institutional investors own **15.54%** of the company’s stock.
Market analysts have expressed caution regarding Aditxt’s performance. On October 8, Weiss Ratings reaffirmed a “sell (e+)” rating for the company’s shares. MarketBeat reports that Aditxt currently holds an average rating of “Sell,” reflecting concerns about its short-term prospects.
Company Overview and Future Prospects
Aditxt, Inc. operates in the biotechnology sector, focusing on developing and commercializing technologies aimed at enhancing health through immune system monitoring and modulation. The company is behind the AditxtScore, which enables individuals to understand and manage their immune profiles, alongside its Apoptotic DNA Immunotherapy, a nucleic acid-based technology designed to mimic the body’s natural methods of inducing tissue tolerance.
As Aditxt navigates these challenges, the market will be closely watching how the upcoming reverse split and changes in institutional ownership affect its stock performance and overall business strategy.
