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

Reviva Pharmaceuticals Holdings, Inc. (NASDAQ:RVPH – Get Rating) was the target of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 108,400 shares, an increase of 130.1% from the May 15th total of 47,100 shares. Based on an average daily trading volume, of 58,800 shares, the days-to-cover ratio is currently 1.8 days.

Shares of Reviva Pharmaceuticals stock opened at $1.50 on Friday. The firm has a market cap of $22.70 million, a price-to-earnings ratio of -1.74 and a beta of 0.20. Reviva Pharmaceuticals has a 52-week low of $1.34 and a 52-week high of $5.20. The stock has a 50-day simple moving average of $1.91 and a 200-day simple moving average of $2.21.

Reviva Pharmaceuticals (NASDAQ:RVPH – Get Rating) last announced its quarterly earnings results on Tuesday, March 15th. The company reported ($0.24) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.24). On average, equities research analysts predict that Reviva Pharmaceuticals will post -1.26 EPS for the current year.

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Reviva Pharmaceuticals by 82.7% in the 3rd quarter. BlackRock Inc. now owns 33,470 shares of the company’s stock valued at $136,000 after acquiring an additional 15,152 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Reviva Pharmaceuticals by 13.6% in the 3rd quarter. Geode Capital Management LLC now owns 76,964 shares of the company’s stock valued at $313,000 after acquiring an additional 9,240 shares in the last quarter. Raymond James & Associates bought a new position in shares of Reviva Pharmaceuticals in the 1st quarter valued at approximately $34,000. Renaissance Technologies LLC bought a new position in shares of Reviva Pharmaceuticals in the 1st quarter valued at approximately $31,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Reviva Pharmaceuticals in the 4th quarter valued at approximately $27,000. 17.27% of the stock is currently owned by institutional investors and hedge funds.

Reviva Pharmaceuticals Company Profile (Get Rating)

Reviva Pharmaceuticals Holdings, Inc, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes next-generation therapeutics for diseases targeting unmet medical needs in the areas of central nervous system, respiratory, cardiovascular, metabolic, and inflammatory diseases. The company's lead product candidate is RP5063, which is in Phase III clinical trials for the treatment of schizophrenia, as well as completed Phase I clinical trials to treat bipolar disorder, major depressive disorder, attention-deficit/hyperactivity disorder, behavioral and psychotic symptoms of dementia or Alzheimer's disease, Parkinson's disease psychosis, attention deficit hyperactivity disorder, pulmonary arterial hypertension, and idiopathic pulmonary fibrosis.

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