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

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

Reviva Pharmaceuticals Trading Down 34.9 %

RVPH traded down $0.33 during mid-day trading on Tuesday, hitting $0.62. 5,424,407 shares of the stock were exchanged, compared to its average volume of 1,084,367. The firm’s fifty day moving average is $1.51 and its two-hundred day moving average is $1.47. Reviva Pharmaceuticals has a 1-year low of $0.55 and a 1-year high of $4.28. The company has a market cap of $20.76 million, a PE ratio of -0.56 and a beta of -0.09.

Reviva Pharmaceuticals (NASDAQ:RVPH) last released its earnings results on Monday, March 31st. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.07. As a group, research analysts anticipate that Reviva Pharmaceuticals will post -0.97 earnings per share for the current year.

Institutional Investors Weigh In On Reviva Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Reviva Pharmaceuticals during the 4th quarter worth about $25,000. Cornerstone Select Advisors LLC purchased a new stake in shares of Reviva Pharmaceuticals during the 4th quarter worth approximately $32,000. Drive Wealth Management LLC acquired a new position in Reviva Pharmaceuticals in the fourth quarter valued at $36,000. XTX Topco Ltd acquired a new stake in shares of Reviva Pharmaceuticals during the fourth quarter worth about $45,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Reviva Pharmaceuticals by 848.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 26,775 shares of the company’s stock valued at $48,000 after purchasing an additional 23,953 shares during the period. 63.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RVPH. D. Boral Capital decreased their target price on Reviva Pharmaceuticals from $15.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday. Roth Mkm assumed coverage on shares of Reviva Pharmaceuticals in a report on Friday, January 10th. They set a “buy” rating and a $7.00 price objective on the stock. Roth Capital raised shares of Reviva Pharmaceuticals to a “strong-buy” rating in a research note on Friday, January 10th. HC Wainwright cut their price objective on Reviva Pharmaceuticals from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Finally, Maxim Group upgraded shares of Reviva Pharmaceuticals from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a report on Friday, January 10th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $10.00.

About Reviva Pharmaceuticals

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.