Short Interest in Reviva Pharmaceuticals Holdings, Inc. (NASDAQ:RVPH) Drops By 35.9%

Reviva Pharmaceuticals Holdings, Inc. (NASDAQ:RVPH) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 5,640,000 shares, a drop of 35.9% from the December 15th total of 8,800,000 shares. Based on an average daily trading volume, of 2,360,000 shares, the short-interest ratio is currently 2.4 days.

Hedge Funds Weigh In On Reviva Pharmaceuticals

A hedge fund recently raised its stake in Reviva Pharmaceuticals stock. Geode Capital Management LLC raised its holdings in Reviva Pharmaceuticals Holdings, Inc. (NASDAQ:RVPH) by 17.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 278,496 shares of the company’s stock after buying an additional 42,376 shares during the period. Geode Capital Management LLC owned about 0.83% of Reviva Pharmaceuticals worth $401,000 as of its most recent filing with the Securities and Exchange Commission. 63.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RVPH has been the topic of several recent analyst reports. Roth Mkm assumed coverage on shares of Reviva Pharmaceuticals in a report on Friday. They issued a “buy” rating and a $7.00 target price on the stock. Maxim Group upgraded Reviva Pharmaceuticals from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Friday. Roth Capital upgraded Reviva Pharmaceuticals to a “strong-buy” rating in a report on Friday. Finally, EF Hutton Acquisition Co. I upgraded Reviva Pharmaceuticals to a “strong-buy” rating in a report on Monday, September 23rd. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $11.25.

Reviva Pharmaceuticals Stock Performance

Shares of NASDAQ:RVPH opened at $1.91 on Tuesday. Reviva Pharmaceuticals has a 52-week low of $0.60 and a 52-week high of $4.83. The business’s 50 day simple moving average is $1.58 and its two-hundred day simple moving average is $1.29. The firm has a market cap of $63.87 million, a P/E ratio of -1.72 and a beta of -0.12.

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.