HC Wainwright Reaffirms Buy Rating for Reviva Pharmaceuticals (NASDAQ:RVPH)

HC Wainwright reaffirmed their buy rating on shares of Reviva Pharmaceuticals (NASDAQ:RVPH) in a report issued on Monday, Benzinga reports. The firm currently has a $20.00 target price on the stock.

Reviva Pharmaceuticals Stock Performance

RVPH stock opened at $3.90 on Monday. Reviva Pharmaceuticals has a one year low of $2.67 and a one year high of $9.25. The stock has a market capitalization of $108.89 million, a PE ratio of -2.34 and a beta of -0.02. The company has a fifty day moving average of $3.82 and a 200-day moving average of $4.34.

Hedge Funds Weigh In On Reviva Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in RVPH. Wells Fargo & Company MN boosted its position in shares of Reviva Pharmaceuticals by 4,550.0% in the second quarter. Wells Fargo & Company MN now owns 5,115 shares of the company’s stock worth $30,000 after acquiring an additional 5,005 shares during the last quarter. BlackRock Inc. boosted its position in shares of Reviva Pharmaceuticals by 5.9% in the second quarter. BlackRock Inc. now owns 90,006 shares of the company’s stock worth $527,000 after acquiring an additional 5,052 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Reviva Pharmaceuticals by 3.8% in the second quarter. Geode Capital Management LLC now owns 150,949 shares of the company’s stock worth $885,000 after acquiring an additional 5,519 shares during the last quarter. Northern Trust Corp boosted its position in shares of Reviva Pharmaceuticals by 28.3% in the fourth quarter. Northern Trust Corp now owns 40,224 shares of the company’s stock worth $207,000 after acquiring an additional 8,869 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Reviva Pharmaceuticals by 631.3% in the second quarter. Tower Research Capital LLC TRC now owns 11,109 shares of the company’s stock worth $65,000 after acquiring an additional 9,590 shares during the last quarter. 63.18% of the stock is currently owned by hedge funds and other institutional investors.

Reviva Pharmaceuticals Company Profile

Reviva Pharmaceuticals Holdings, Inc, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes next-generation therapeutics for diseases targeting unmet medical needs in the areas of central nervous system, respiratory, cardiovascular, metabolic, and inflammatory diseases. The company's lead product candidate is brilaroxazine (RP5063), which is in Phase III clinical trials for use in the treatment of schizophrenia, as well as completed Phase I clinical trials to treat bipolar disorder, major depressive disorder, attentiondeficit/hyperactivity disorder, behavioral and psychotic symptoms of dementia or Alzheimer's disease, Parkinson's disease psychosis, attention deficit hyperactivity disorder, pulmonary arterial hypertension, and idiopathic pulmonary fibrosis.