PhaseBio Pharmaceuticals Inc (NASDAQ:PHAS) Short Interest Up 10.2% in November

PhaseBio Pharmaceuticals Inc (NASDAQ:PHAS) saw a large growth in short interest during the month of November. As of November 29th, there was short interest totalling 1,940,000 shares, a growth of 10.2% from the November 14th total of 1,760,000 shares. Approximately 14.0% of the company’s shares are sold short. Based on an average trading volume of 366,100 shares, the short-interest ratio is currently 5.3 days.

Shares of PHAS stock traded down $0.49 on Friday, reaching $3.37. 405,275 shares of the stock were exchanged, compared to its average volume of 247,535. The stock has a market cap of $94.07 million, a P/E ratio of -0.75 and a beta of 1.09. The company has a quick ratio of 13.98, a current ratio of 13.98 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $3.66 and a two-hundred day moving average of $7.13. PhaseBio Pharmaceuticals has a 1-year low of $2.56 and a 1-year high of $16.65.

PhaseBio Pharmaceuticals (NASDAQ:PHAS) last released its quarterly earnings data on Thursday, November 14th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.04). The firm had revenue of $0.24 million for the quarter, compared to analyst estimates of $0.35 million. PhaseBio Pharmaceuticals had a negative return on equity of 53.00% and a negative net margin of 1,768.29%. On average, equities research analysts predict that PhaseBio Pharmaceuticals will post -1.39 EPS for the current fiscal year.

PHAS has been the subject of several analyst reports. ValuEngine upgraded PhaseBio Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. Stifel Nicolaus cut their price target on PhaseBio Pharmaceuticals from $20.00 to $17.00 and set a “buy” rating for the company in a report on Monday, September 9th. Zacks Investment Research downgraded PhaseBio Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. William Blair reiterated an “outperform” rating on shares of PhaseBio Pharmaceuticals in a report on Wednesday, September 11th. Finally, Cowen reiterated a “buy” rating on shares of PhaseBio Pharmaceuticals in a report on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $17.56.

Several hedge funds have recently added to or reduced their stakes in the company. NEA Management Company LLC acquired a new stake in shares of PhaseBio Pharmaceuticals during the 2nd quarter worth $87,165,000. Rock Springs Capital Management LP increased its holdings in shares of PhaseBio Pharmaceuticals by 24.8% during the 2nd quarter. Rock Springs Capital Management LP now owns 1,423,256 shares of the company’s stock worth $18,673,000 after buying an additional 283,256 shares during the last quarter. Cormorant Asset Management LP increased its holdings in shares of PhaseBio Pharmaceuticals by 7.9% during the 2nd quarter. Cormorant Asset Management LP now owns 906,229 shares of the company’s stock worth $11,890,000 after buying an additional 66,587 shares during the last quarter. BlackRock Inc. increased its holdings in shares of PhaseBio Pharmaceuticals by 1,878.4% during the 2nd quarter. BlackRock Inc. now owns 895,427 shares of the company’s stock worth $11,748,000 after buying an additional 850,166 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of PhaseBio Pharmaceuticals by 22.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 796,236 shares of the company’s stock worth $10,447,000 after buying an additional 144,535 shares during the last quarter. Institutional investors and hedge funds own 64.73% of the company’s stock.

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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