Reviva Pharmaceuticals Holdings, Inc. (NASDAQ:RVPH) Sees Large Drop in Short Interest

Reviva Pharmaceuticals Holdings, Inc. (NASDAQ:RVPH) was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 2,850,000 shares, a decrease of 24.8% from the February 28th total of 3,790,000 shares. Based on an average daily trading volume, of 1,830,000 shares, the days-to-cover ratio is presently 1.6 days. Currently, 11.7% of the company’s stock are short sold.

Institutional Trading of Reviva Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. Tang Capital Management LLC purchased a new stake in shares of Reviva Pharmaceuticals during the fourth quarter worth approximately $308,000. Cornerstone Select Advisors LLC purchased a new position in Reviva Pharmaceuticals during the 4th quarter worth $32,000. Ameriprise Financial Inc. purchased a new position in Reviva Pharmaceuticals during the 4th quarter worth $84,000. Tower Research Capital LLC TRC boosted its holdings in shares of Reviva Pharmaceuticals by 848.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 26,775 shares of the company’s stock valued at $48,000 after acquiring an additional 23,953 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Reviva Pharmaceuticals during the fourth quarter worth about $45,000. 63.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. HC Wainwright lowered their price objective on Reviva Pharmaceuticals from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Maxim Group upgraded shares of Reviva Pharmaceuticals from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Friday, January 10th. Roth Capital upgraded shares of Reviva Pharmaceuticals to a “strong-buy” rating in a research report on Friday, January 10th. D. Boral Capital reaffirmed a “buy” rating and issued a $15.00 target price on shares of Reviva Pharmaceuticals in a research report on Tuesday, January 21st. Finally, Roth Mkm assumed coverage on shares of Reviva Pharmaceuticals in a research report on Friday, January 10th. They issued a “buy” rating and a $7.00 price target for the company. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $11.40.

Reviva Pharmaceuticals Stock Performance

NASDAQ RVPH traded down $0.06 during trading on Monday, reaching $0.95. The company’s stock had a trading volume of 596,845 shares, compared to its average volume of 1,065,920. Reviva Pharmaceuticals has a twelve month low of $0.60 and a twelve month high of $4.28. The firm has a market cap of $31.70 million, a price-to-earnings ratio of -0.85 and a beta of -0.09. The business’s fifty day moving average price is $1.53 and its 200-day moving average price is $1.47.

Reviva Pharmaceuticals Company Profile

Reviva Pharmaceuticals Holdings, Inc, a biopharmaceutical company, discovers, develops, and commercializes next-generation therapeutics for diseases targeting unmet medical needs in the areas of central nervous system, respiratory, inflammatory, and cardiometabolic diseases. The company's lead product candidate comprises brilaroxazine (RP5063) for the treatment of various neuropsychiatric indications, including schizophrenia, bipolar disorder, major depressive disorder, attentiondeficit/hyperactivity disorder, behavioral and psychotic symptoms of dementia and Alzheimer's disease, and Parkinson's disease psychosis; in clinical development respiratory indications, such as pulmonary arterial hypertension and idiopathic pulmonary fibrosis; and in preclinical development for the treatment of psoriasis.