PhaseBio Pharmaceuticals, Inc. (NASDAQ:PHAS – Get Rating) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 1,470,000 shares, a decline of 18.3% from the August 31st total of 1,800,000 shares. Approximately 3.8% of the shares of the stock are sold short. Based on an average daily volume of 244,600 shares, the days-to-cover ratio is presently 6.0 days.

Institutional Trading of PhaseBio Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James & Associates purchased a new position in PhaseBio Pharmaceuticals in the 4th quarter valued at approximately $40,000. Resources Investment Advisors LLC. boosted its position in PhaseBio Pharmaceuticals by 48.6% in the 1st quarter. Resources Investment Advisors LLC. now owns 113,150 shares of the company's stock valued at $149,000 after buying an additional 37,000 shares during the period. MAI Capital Management purchased a new position in PhaseBio Pharmaceuticals in the 1st quarter valued at approximately $1,872,000. Towercrest Capital Management purchased a new position in PhaseBio Pharmaceuticals in the first quarter valued at $1,389,000. Finally, Blair William & Co. IL raised its stake in PhaseBio Pharmaceuticals by 56.0% in the first quarter. Blair William & Co. IL now owns 35,696 shares of the company's stock valued at $47,000 after buying an additional 12,810 shares in the last quarter. Institutional investors and hedge funds own 49.02% of the company's stock.

PhaseBio Pharmaceuticals Price Performance

NASDAQ:PHAS traded down $0.06 during mid-day trading on Thursday, hitting $0.20. The company's stock had a trading volume of 69,546 shares, compared to its average volume of 110,054. PhaseBio Pharmaceuticals has a 1 year low of $0.24 and a 1 year high of $4.10. The stock has a market cap of $9.82 million, a price-to-earnings ratio of -0.12 and a beta of 2.45. The business's fifty day moving average is $1.08 and its two-hundred day moving average is $1.02.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PHAS shares. William Blair cut PhaseBio Pharmaceuticals from an "outperform" rating to a "market perform" rating in a report on Wednesday. Needham & Company LLC lowered PhaseBio Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Wednesday. Finally, Stifel Nicolaus lowered PhaseBio Pharmaceuticals from a "buy" rating to a "hold" rating and lowered their price target for the company from $15.00 to $1.00 in a report on Wednesday.

PhaseBio Pharmaceuticals Company Profile

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PhaseBio Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel for cardiovascular diseases. Its lead product candidate is bentracimab (PB2452), a reversal agent for the antiplatelet drug ticagrelor that is in Phase III clinical trial for patients with uncontrolled major or life-threatening bleeding events or in patients requiring urgent or an invasive procedure.

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