PhaseBio Pharmaceuticals Inc (NASDAQ:PHAS) was the target of a large growth in short interest in July. As of July 15th, there was short interest totalling 899,400 shares, a growth of 57.4% from the June 15th total of 571,500 shares. Currently, 9.2% of the shares of the stock are short sold. Based on an average trading volume of 182,100 shares, the short-interest ratio is currently 4.9 days.
Several analysts have recently issued reports on PHAS shares. Zacks Investment Research raised General Moly from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Citigroup set a $27.00 price objective on PhaseBio Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, May 24th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $17.75.
In other news, Director Clay Thorp sold 2,908 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $14.00, for a total transaction of $40,712.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 17.00% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Strs Ohio purchased a new stake in shares of PhaseBio Pharmaceuticals during the 2nd quarter worth approximately $48,000. BlackRock Inc. purchased a new stake in shares of PhaseBio Pharmaceuticals during the 4th quarter worth approximately $79,000. Tibra Equities Europe Ltd purchased a new stake in PhaseBio Pharmaceuticals during the 1st quarter valued at $217,000. United Services Automobile Association purchased a new stake in PhaseBio Pharmaceuticals during the 4th quarter valued at $286,000. Finally, Citigroup Inc. purchased a new stake in PhaseBio Pharmaceuticals during the 4th quarter valued at $351,000. 28.27% of the stock is currently owned by institutional investors and hedge funds.
Shares of PHAS traded down $0.35 during mid-day trading on Friday, hitting $8.58. 142,800 shares of the stock were exchanged, compared to its average volume of 286,579. The stock has a market cap of $229.79 million and a P/E ratio of -1.91. PhaseBio Pharmaceuticals has a 52-week low of $2.55 and a 52-week high of $16.65. The stock has a 50-day simple moving average of $11.58. The company has a current ratio of 14.24, a quick ratio of 14.24 and a debt-to-equity ratio of 0.19.
PhaseBio Pharmaceuticals (NASDAQ:PHAS) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.44) by $0.14. The firm had revenue of $0.65 million for the quarter, compared to analysts’ expectations of $0.12 million. On average, analysts predict that PhaseBio Pharmaceuticals will post -1.47 EPS for the current fiscal year.
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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