PhaseBio Pharmaceuticals Inc (NASDAQ:PHAS) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 1,108,500 shares, an increase of 22.0% from the July 31st total of 908,700 shares. Based on an average daily trading volume, of 155,600 shares, the days-to-cover ratio is currently 7.1 days. Approximately 8.2% of the shares of the company are short sold.

NASDAQ PHAS traded up $0.24 during trading hours on Friday, reaching $5.37. The company’s stock had a trading volume of 125,102 shares, compared to its average volume of 263,057. The firm has a market capitalization of $154.11 million and a price-to-earnings ratio of -1.20. PhaseBio Pharmaceuticals has a 1-year low of $2.55 and a 1-year high of $16.65. The company has a debt-to-equity ratio of 0.12, a current ratio of 16.51 and a quick ratio of 16.52. The company’s 50-day moving average is $7.61 and its two-hundred day moving average is $9.61.

PhaseBio Pharmaceuticals (NASDAQ:PHAS) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.02. The company had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.13 million. PhaseBio Pharmaceuticals had a negative return on equity of 193.85% and a negative net margin of 1,447.33%. Equities analysts forecast that PhaseBio Pharmaceuticals will post -1.42 EPS for the current fiscal year.

Several brokerages have recently issued reports on PHAS. Zacks Investment Research raised PhaseBio Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.25 price objective for the company in a report on Tuesday, August 20th. Citigroup set a $27.00 price objective on PhaseBio Pharmaceuticals and gave the company a “buy” rating in a report on Friday, May 24th. Stifel Nicolaus decreased their price objective on PhaseBio Pharmaceuticals from $20.00 to $17.00 and set a “buy” rating for the company in a report on Monday. ValuEngine raised PhaseBio Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, William Blair reissued an “outperform” rating on shares of PhaseBio Pharmaceuticals in a report on Wednesday. Seven equities research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average price target of $17.56.

In other news, Director Clay Thorp sold 2,908 shares of the business’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.00% of the company’s stock.

A number of institutional investors have recently modified their holdings of PHAS. JPMorgan Chase & Co. acquired a new position in PhaseBio Pharmaceuticals during the second quarter worth $48,000. Strs Ohio acquired a new position in PhaseBio Pharmaceuticals during the second quarter worth $48,000. Wells Fargo & Company MN acquired a new position in PhaseBio Pharmaceuticals during the second quarter worth $211,000. River & Mercantile Asset Management LLP acquired a new position in PhaseBio Pharmaceuticals during the second quarter worth $262,000. Finally, Virtus ETF Advisers LLC acquired a new position in PhaseBio Pharmaceuticals during the second quarter worth $301,000. Institutional investors own 65.70% 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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