PhaseBio Pharmaceuticals Inc (NASDAQ:PHAS) Short Interest Update

PhaseBio Pharmaceuticals Inc (NASDAQ:PHAS) saw a significant drop in short interest in June. As of June 15th, there was short interest totalling 442,800 shares, a drop of 8.2% from the May 15th total of 482,300 shares. Based on an average daily trading volume, of 413,000 shares, the short-interest ratio is presently 1.1 days. Approximately 4.5% of the shares of the stock are sold short.

Shares of PHAS opened at $11.22 on Friday. The stock’s 50-day moving average is $11.79. The firm has a market capitalization of $274.87 million and a PE ratio of -2.50. PhaseBio Pharmaceuticals has a 12 month low of $2.55 and a 12 month high of $16.65. The company has a debt-to-equity ratio of 0.19, a quick ratio of 14.24 and a current ratio of 14.24.

PhaseBio Pharmaceuticals (NASDAQ:PHAS) last announced its earnings results on Thursday, May 9th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.44) by $0.14. The business had revenue of $0.65 million for the quarter, compared to analysts’ expectations of $0.12 million. As a group, analysts predict that PhaseBio Pharmaceuticals will post -1.47 EPS for the current year.

In other news, Director Clay Thorp sold 2,908 shares of PhaseBio Pharmaceuticals stock in a transaction on Monday, July 1st. The stock was sold at an average price of $14.00, for a total value of $40,712.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 17.00% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC bought a new stake in PhaseBio Pharmaceuticals in the fourth quarter valued at about $411,000. Citigroup Inc. bought a new stake in PhaseBio Pharmaceuticals in the fourth quarter valued at about $351,000. United Services Automobile Association bought a new stake in PhaseBio Pharmaceuticals in the fourth quarter valued at about $286,000. BlackRock Inc. bought a new stake in PhaseBio Pharmaceuticals in the fourth quarter valued at about $79,000. Finally, Tibra Equities Europe Ltd bought a new stake in PhaseBio Pharmaceuticals in the first quarter valued at about $217,000. 28.27% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently commented on PHAS. Citigroup set a $27.00 price objective on PhaseBio Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, May 24th. Zacks Investment Research raised General Moly from a “sell” rating to a “hold” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. PhaseBio Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $17.75.

PhaseBio Pharmaceuticals Company Profile

PhaseBio Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapies to treat orphan diseases with an initial focus on cardiopulmonary indications. Its lead product candidate, PB2452, is a reversal agent for the antiplatelet drug ticagrelor that has completed a Phase 1 clinical trial and is been developed for the treatment of patients on ticagrelor who are experiencing a major bleeding event or those who require urgent surgery.

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