PhaseBio Pharmaceuticals (NASDAQ:PHAS) Releases Earnings Results, Beats Expectations By $0.35 EPS

PhaseBio Pharmaceuticals (NASDAQ:PHAS – Get Rating) announced its quarterly earnings data on Monday. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.35, MarketWatch Earnings reports.

PhaseBio Pharmaceuticals stock opened at $0.93 on Tuesday. The firm has a fifty day moving average of $1.20 and a 200-day moving average of $1.86. PhaseBio Pharmaceuticals has a 52-week low of $0.91 and a 52-week high of $4.24.

Several large investors have recently bought and sold shares of the stock. Blair William & Co. IL boosted its position in PhaseBio Pharmaceuticals by 56.0% during the 1st quarter. Blair William & Co. IL now owns 35,696 shares of the company’s stock worth $47,000 after purchasing an additional 12,810 shares during the period. Morgan Stanley boosted its position in shares of PhaseBio Pharmaceuticals by 15.6% in the third quarter. Morgan Stanley now owns 149,162 shares of the company’s stock worth $464,000 after buying an additional 20,081 shares during the period. Citadel Advisors LLC grew its stake in shares of PhaseBio Pharmaceuticals by 169.3% in the fourth quarter. Citadel Advisors LLC now owns 37,452 shares of the company’s stock valued at $98,000 after buying an additional 23,545 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of PhaseBio Pharmaceuticals by 43.3% during the 3rd quarter. Geode Capital Management LLC now owns 280,589 shares of the company’s stock valued at $872,000 after buying an additional 84,729 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in PhaseBio Pharmaceuticals during the 1st quarter worth approximately $118,000. Institutional investors and hedge funds own 57.43% of the company’s stock.

Separately, Needham & Company LLC reduced their price target on PhaseBio Pharmaceuticals from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, March 28th.

PhaseBio Pharmaceuticals Company Profile (Get Rating)

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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