Short Interest in PhaseBio Pharmaceuticals Inc (NASDAQ:PHAS) Increases By 10.2%

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

Several institutional investors and hedge funds have recently made changes to their positions in PHAS. Strs Ohio purchased a new position in shares of PhaseBio Pharmaceuticals in the 2nd quarter valued at about $48,000. TD Asset Management Inc. increased its holdings in shares of PhaseBio Pharmaceuticals by 26.9% in the 2nd quarter. TD Asset Management Inc. now owns 40,343 shares of the company’s stock valued at $529,000 after purchasing an additional 8,555 shares in the last quarter. Wells Fargo & Company MN purchased a new position in shares of PhaseBio Pharmaceuticals in the 2nd quarter valued at about $211,000. JPMorgan Chase & Co. acquired a new stake in PhaseBio Pharmaceuticals in the 2nd quarter valued at about $48,000. Finally, NEA Management Company LLC acquired a new stake in PhaseBio Pharmaceuticals in the 2nd quarter valued at about $87,165,000. Institutional investors and hedge funds own 64.73% of the company’s stock.

A number of equities analysts have commented on the stock. Cowen restated a “buy” rating on shares of PhaseBio Pharmaceuticals in a research report on Tuesday, September 24th. Stifel Nicolaus cut their price target on shares of 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 shares of 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, ValuEngine upgraded shares of PhaseBio Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. PhaseBio Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $17.56.

Shares of PHAS traded down $0.49 during trading hours on Friday, reaching $3.37. The company had a trading volume of 405,275 shares, compared to its average volume of 253,559. The firm has a 50 day simple moving average of $3.66 and a 200-day simple moving average of $7.13. The company has a current ratio of 13.98, a quick ratio of 13.98 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $111.04 million, a price-to-earnings ratio of -0.75 and a beta of 1.09. PhaseBio Pharmaceuticals has a 12-month low of $2.56 and a 12-month high of $16.65.

PhaseBio Pharmaceuticals (NASDAQ:PHAS) last announced its quarterly earnings results on Thursday, November 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.36) by ($0.04). The company had revenue of $0.24 million during the quarter, compared to analysts’ expectations of $0.35 million. PhaseBio Pharmaceuticals had a negative net margin of 1,768.29% and a negative return on equity of 53.00%. Sell-side analysts forecast that PhaseBio Pharmaceuticals will post -1.39 earnings per share for the current year.

About PhaseBio Pharmaceuticals

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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