Short Interest Update on Keryx Biopharmaceuticals (KERX)

Keryx Biopharmaceuticals (KERX) : Traders are negative on Keryx Biopharmaceuticals (KERX), as it has 16.8% of short positions outstanding compared to its float. The total shorts have reduced by -391,971 shares, which is a -2.2% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,17,571,659 to 17,179,688 shares. While the daily trading volume of the stock is 3,412,276, there are 5 days remaining to cover the open short positions. The short interest indicates that the traders dont see a large downside in the stock from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.

Keryx Biopharmaceuticals (NASDAQ:KERX): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $4.70 and $4.69 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.12. The buying momentum continued till the end and the stock did not give up its gains. It closed at $4.72, notching a gain of 0.64% for the day. The total traded volume was 3,416,113 . The stock had closed at $4.69 on the previous day.


In a related news, The Securities and Exchange Commission has divulged that Madison Greg, director officer (President and CEO) of Keryx Biopharmaceuticals Inc, had unloaded 1,622 shares at an average price of $4.22 in a transaction dated on August 9, 2016. The total value of the transaction was worth $6,845.

Keryx Biopharmaceuticals, Inc. is a biopharmaceutical company. The Company is focused on the development of products for the treatment of renal diseases. Its lead product Auryxia (ferric citrate), an oral, absorbable iron-based compound, received marketing approval from the United States Food and Drug Administration (FDA), for the control of serum phosphorus levels in patients with chronic kidney disease (CKD) on dialysis. The approval of Auryxia was based on data from its Phase III registration program, in which Auryxia effectively reduced serum phosphorus levels to well within the National Kidney Foundation Kidney Disease Outcomes Quality Initiative (KDOQI) guidelines range of 3.5 to 5.5 mg/dL. In addition to the effects on serum phosphorus levels, Auryxias pharmacodynamic properties resulted in increased ferritin, iron and transferrin saturation (TSAT).

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