Reviva Pharmaceuticals Holdings, Inc. (NASDAQ:RVPH) Short Interest Down 24.8% in March

Reviva Pharmaceuticals Holdings, Inc. (NASDAQ:RVPH) saw a significant decline in short interest during the month of 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. Based on an average trading volume of 1,830,000 shares, the days-to-cover ratio is currently 1.6 days. Approximately 11.7% of the company’s stock are sold short.

Hedge Funds Weigh In On Reviva Pharmaceuticals

A number of hedge funds have recently modified their holdings of RVPH. Geode Capital Management LLC raised its position in Reviva Pharmaceuticals by 17.9% in the 3rd quarter. Geode Capital Management LLC now owns 278,496 shares of the company’s stock valued at $401,000 after purchasing an additional 42,376 shares during the last quarter. EMC Capital Management raised its holdings in shares of Reviva Pharmaceuticals by 142.0% in the fourth quarter. EMC Capital Management now owns 44,535 shares of the company’s stock valued at $81,000 after buying an additional 26,134 shares during the last quarter. Drive Wealth Management LLC purchased a new stake in shares of Reviva Pharmaceuticals in the fourth quarter valued at about $36,000. Ameriprise Financial Inc. acquired a new stake in shares of Reviva Pharmaceuticals during the fourth quarter worth about $84,000. Finally, Tang Capital Management LLC purchased a new position in shares of Reviva Pharmaceuticals during the fourth quarter worth about $308,000. 63.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RVPH. HC Wainwright reduced their price objective on shares of Reviva Pharmaceuticals from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Roth Mkm started coverage on Reviva Pharmaceuticals in a report on Friday, January 10th. They set a “buy” rating and a $7.00 price target for the company. Maxim Group upgraded Reviva Pharmaceuticals from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Friday, January 10th. D. Boral Capital restated a “buy” rating and set a $15.00 target price on shares of Reviva Pharmaceuticals in a research note on Tuesday, January 21st. Finally, Roth Capital upgraded shares of Reviva Pharmaceuticals to a “strong-buy” rating in a research note on Friday, January 10th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Reviva Pharmaceuticals has an average rating of “Buy” and a consensus price target of $11.40.

Reviva Pharmaceuticals Stock Down 7.3 %

NASDAQ:RVPH opened at $1.01 on Friday. The company has a market capitalization of $33.78 million, a PE ratio of -0.91 and a beta of -0.09. Reviva Pharmaceuticals has a 52-week low of $0.60 and a 52-week high of $4.28. The stock’s 50 day moving average price is $1.53 and its 200 day moving average price is $1.47.

Reviva Pharmaceuticals Company Profile

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.