Pear Therapeutics, Inc. (NASDAQ:PEAR) Short Interest Up 49.9% in March

Pear Therapeutics, Inc. (NASDAQ:PEAR – Get Rating) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 874,100 shares, an increase of 49.9% from the March 15th total of 583,100 shares. Currently, 1.5% of the company’s shares are short sold. Based on an average trading volume of 275,400 shares, the short-interest ratio is presently 3.2 days.

Shares of PEAR opened at $4.73 on Friday. Pear Therapeutics has a 12-month low of $3.46 and a 12-month high of $14.60. The firm has a 50-day moving average of $4.47.

A number of large investors have recently modified their holdings of the business. BerganKDV Wealth Management LLC purchased a new stake in Pear Therapeutics during the fourth quarter worth about $28,000. Roble Belko & Company Inc purchased a new stake in Pear Therapeutics during the fourth quarter worth about $28,000. Penserra Capital Management LLC purchased a new stake in Pear Therapeutics during the fourth quarter worth about $37,000. Geode Capital Management LLC purchased a new stake in Pear Therapeutics during the fourth quarter worth about $359,000. Finally, EDBI Pte Ltd purchased a new stake in Pear Therapeutics during the fourth quarter worth about $2,644,000.

PEAR has been the topic of several analyst reports. Bank of America initiated coverage on Pear Therapeutics in a report on Wednesday, January 26th. They set a “neutral” rating on the stock. Zacks Investment Research upgraded shares of Pear Therapeutics from a “hold” rating to a “buy” rating and set a $5.75 price objective on the stock in a report on Friday, April 1st. Credit Suisse Group started coverage on shares of Pear Therapeutics in a report on Thursday, January 20th. They issued an “outperform” rating and a $11.00 price objective on the stock. Citigroup reduced their price objective on shares of Pear Therapeutics from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, March 29th. Finally, Chardan Capital restated a “buy” rating on shares of Pear Therapeutics in a report on Wednesday, December 22nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $10.19.

Pear Therapeutics Company Profile (Get Rating)

Pear Therapeutics, Inc engages in developing and commercializing software-based medicines. The company has a pipeline of products and product candidates across therapeutic areas, including severe psychiatric and neurologic conditions. Its products include PearConnect, a patient service center for prescription digital therapeutics; reSET for the treatment of substance use disorder; reSET-O for the treatment of opioid use disorder; and Somryst for the treatment of chronic insomnia.

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