Synta Pharmaceuticals June 15th Short Interest Update

Synta Pharmaceuticals (NASDAQ:SNTA) has shown a drop of 4.2% or 237,649 shares in the short positions. The bets have increased to 5,372,280 shares on June 15,2016 from 5,609,929 shares on May 31,2016. With respect to the floated shares, the shorts are 4.4%. The days to cover are calculated to be 14, using the standard per day volume of 372,211 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Synta Pharmaceuticals (NASDAQ:SNTA): The stock opened at $0.31 on Friday but the bulls could not build on the opening and the stock topped out at $0.32 for the day. The stock traded down to $0.30 during the day, due to lack of any buying support eventually closed down at $0.31 with a loss of -2.19% for the day. The stock had closed at $0.31 on the previous day. The total traded volume was 8,506,472 shares.

The company shares have dropped -85.58% from its 1 Year high price. On Jul 7, 2015, the shares registered one year high at $2.37 and the one year low was seen on Feb 8, 2016. The 50-Day Moving Average price is $0.36 and the 200 Day Moving Average price is recorded at $0.30.

Synta Pharmaceuticals (NASDAQ:SNTA) has tumbled 9.44% during the past week and has dropped 14.83% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 7.94%. Synta Pharmaceuticals (NASDAQ:SNTA) has underperformed the index by 12.25% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

Synta Pharmaceuticals Corp. is a biopharmaceutical company. The Company focuses on research, development and commercialization of oncology medicines for cancer patients. Its lead oncology drug candidate is ganetespib, which is a heat shock protein 90 (Hsp90) inhibitor. The Company also has an additional clinical-stage oncology candidate: elesclomol, which is a mitochondrial metabolism inhibitor. Ganetespib is a small molecule inhibitor of Hsp90, which is a molecular chaperone required for the folding and activation of cancer-promoting proteins. Elesclomol is a first-in-class investigational drug candidate that triggers programmed cell death (apoptosis) in cancer cells through a mechanism: disrupting cancer cell energy metabolism. The Company entered into a license arrangement for its calcium release-activated calcium channel (CRACM) program, including two candidates and the associated intellectual property portfolio, with PRCL Research Inc. (PRCL).

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