PhaseBio Pharmaceuticals (NASDAQ:PHAS) Trading Up 7%

Financial News Live · Nov 17, 2022 13:42

PhaseBio Pharmaceuticals, Inc. (NASDAQ:PHAS – Get Rating) shares were up 7% during trading on Wednesday . The stock traded as high as $0.11 and last traded at $0.10. Approximately 455,938 shares changed hands during trading, a decline of 46% from the average daily volume of 848,888 shares. The stock had previously closed at $0.10.

Analysts Set New Price Targets

Several analysts have recently commented on PHAS shares. William Blair cut shares of PhaseBio Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research note on Wednesday, September 28th. Cowen cut shares of PhaseBio Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research note on Monday, October 24th. Stifel Nicolaus cut shares of PhaseBio Pharmaceuticals from a "buy" rating to a "hold" rating and reduced their price objective for the company from $15.00 to $1.00 in a research note on Wednesday, September 28th. Cowen cut shares of PhaseBio Pharmaceuticals to a "market perform" rating in a research note on Monday, October 24th. Finally, Needham & Company LLC cut shares of PhaseBio Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Wednesday, September 28th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $4.50.

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PhaseBio Pharmaceuticals Price Performance

The stock has a market capitalization of $5.17 million, a P/E ratio of -0.05 and a beta of 2.57. The business's 50 day simple moving average is $0.37 and its 200-day simple moving average is $0.75.

Insiders Place Their Bets

In other PhaseBio Pharmaceuticals news, major shareholder Enterprise Associates 13 L. New sold 1,784,109 shares of the stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $0.15, for a total value of $267,616.35. Following the sale, the insider now directly owns 4,857,525 shares in the company, valued at $728,628.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 9.90% of the company's stock.

Institutional Investors Weigh In On PhaseBio Pharmaceuticals

Several hedge funds have recently bought and sold shares of PHAS. MAI Capital Management acquired a new stake in PhaseBio Pharmaceuticals in the first quarter worth $1,872,000. Towercrest Capital Management acquired a new stake in shares of PhaseBio Pharmaceuticals during the first quarter worth $1,389,000. Resources Investment Advisors LLC. raised its holdings in shares of PhaseBio Pharmaceuticals by 959.8% during the third quarter. Resources Investment Advisors LLC. now owns 171,150 shares of the company's stock worth $30,000 after acquiring an additional 155,000 shares during the period. Jane Street Group LLC acquired a new stake in shares of PhaseBio Pharmaceuticals during the second quarter worth $68,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of PhaseBio Pharmaceuticals during the first quarter worth $118,000. 49.02% of the stock is currently owned by institutional investors and hedge funds.

PhaseBio Pharmaceuticals Company Profile

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PhaseBio Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company, which engages in the development and commercialization of novel therapies for cardiovascular diseases. The firm's pipeline includes: bentracimab (PB2452), a novel reversal agent for the antiplatelet therapy ticagrelor, pemziviptadil (PB1046), a once-weekly vasoactive intestinal peptide receptor agonist for the treatment of pulmonary arterial hypertension, and PB6440, an oral agent for the treatment of resistant hypertension.