Reviva Pharmaceuticals Holdings, Inc. (NASDAQ:RVPH) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 63,600 shares, a growth of 45.2% from the August 15th total of 43,800 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average daily volume of 129,400 shares, the days-to-cover ratio is currently 0.5 days.
Separately, Maxim Group initiated coverage on shares of Reviva Pharmaceuticals in a research note on Monday, July 26th. They set a “buy” rating and a $10.00 price objective on the stock.
Shares of NASDAQ RVPH opened at $4.17 on Tuesday. The stock has a market capitalization of $55.83 million, a price-to-earnings ratio of -3.34 and a beta of -0.08. Reviva Pharmaceuticals has a 12 month low of $3.29 and a 12 month high of $15.10. The firm’s 50 day simple moving average is $3.81 and its 200-day simple moving average is $4.87.
A number of institutional investors have recently added to or reduced their stakes in the stock. Armistice Capital LLC acquired a new stake in Reviva Pharmaceuticals in the 2nd quarter valued at $3,473,000. Vanguard Group Inc. purchased a new position in Reviva Pharmaceuticals in the 2nd quarter valued at $2,573,000. Geode Capital Management LLC purchased a new position in Reviva Pharmaceuticals in the 2nd quarter valued at $329,000. Citadel Advisors LLC purchased a new position in Reviva Pharmaceuticals in the 1st quarter valued at $210,000. Finally, Millennium Management LLC purchased a new position in Reviva Pharmaceuticals in the 1st quarter valued at $203,000. 19.82% of the stock is currently owned by hedge funds and other institutional investors.
Reviva Pharmaceuticals Company Profile
Reviva Pharmaceuticals Holdings, Inc is a clinical-stage biopharmaceutical company, which engages in the discovery and development of therapeutics for the central nervous system, respiratory, and metabolic diseases. It uses chemical genomics driven technology platform and proprietary chemistry to develop new medicines.
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