JAGX cost to borrow has more than doubled in a week. That's the headline in Jaguar Health's lending market right now.
Cost to borrow stood at 52% as of May 7. A week earlier it was 18.7%. That's a 178% jump in seven days — the highest CTB level in recent history for this stock.
Availability has tightened sharply in lockstep. Utilization sits at 90.68%, approaching the 52-week high of 100%. That means fewer than one share remains in the lending pool for every ten already borrowed. The borrow market is under real strain.
Short interest now stands at 4.1% of free float. That's up 18.3% in a single day. Over the week, the raw share count has roughly doubled from very low levels — from around 73,000 shares short on May 1 to nearly 154,000 by May 7.
The pattern is striking. Short interest collapsed at the end of April, dropping to just 14,000 shares on April 30. It has since rebuilt aggressively, rising every single day this week. Shorts are piling back in — and the lending market is tightening as they do.
The ORTEX short score for JAGX hit 85.6 on May 7. It was 57.2 on April 30. That's a near-30-point rise in one week. The stock now ranks in the 1st percentile for short score — meaning virtually no stock in the universe scores higher on this composite measure of short pressure.
The utilization rank sits at the 7th percentile. Days-to-cover ranks at the 20th percentile. Every dimension of the short lending market is flashing the same signal.
JAGX is scheduled to report earnings on May 14. The stock is down 57% over the past week and 79% over the past month. It closed at $2.98 on May 7, up 5.7% on the day.
That earnings date is now just six days away. The combination of rapidly rising short interest, a borrow market tightening at speed, and a near-term earnings catalyst makes this one of the more active setups in the small-cap pharma space right now.
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