Reviva Pharmaceuticals (NASDAQ:RVPH) Stock Price Down 13.5% – Here’s Why

Shares of Reviva Pharmaceuticals Holdings, Inc. (NASDAQ:RVPH) fell 13.5% during mid-day trading on Wednesday . The company traded as low as $0.4001 and last traded at $0.45. Approximately 18,491 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 413,993 shares. The stock had previously closed at $0.52.

Analyst Ratings Changes

Several brokerages have commented on RVPH. Maxim Group cut shares of Reviva Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Wall Street Zen upgraded Reviva Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, July 5th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Reviva Pharmaceuticals in a research note on Tuesday, April 21st. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $66.67.

Reviva Pharmaceuticals Trading Down 13.5%

The firm has a market cap of $5.90 million, a P/E ratio of -0.11 and a beta of 0.47. The firm’s 50 day moving average is $0.58 and its two-hundred day moving average is $2.03.

Reviva Pharmaceuticals (NASDAQ:RVPH) last issued its earnings results on Thursday, May 14th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.10). Analysts predict that Reviva Pharmaceuticals Holdings, Inc. will post -2.96 EPS for the current fiscal year.

Institutional Trading of Reviva Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd grew its stake in Reviva Pharmaceuticals by 63.6% in the fourth quarter. XTX Topco Ltd now owns 164,291 shares of the company’s stock valued at $46,000 after acquiring an additional 63,893 shares during the period. Millennium Management LLC raised its position in shares of Reviva Pharmaceuticals by 15.0% during the third quarter. Millennium Management LLC now owns 1,711,221 shares of the company’s stock worth $631,000 after purchasing an additional 223,178 shares during the period. Armistice Capital LLC acquired a new stake in shares of Reviva Pharmaceuticals during the second quarter worth about $1,026,000. Geode Capital Management LLC lifted its holdings in shares of Reviva Pharmaceuticals by 87.6% during the 4th quarter. Geode Capital Management LLC now owns 1,048,954 shares of the company’s stock valued at $293,000 after purchasing an additional 489,711 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Reviva Pharmaceuticals by 202.4% during the 4th quarter. State Street Corp now owns 383,200 shares of the company’s stock valued at $107,000 after purchasing an additional 256,500 shares in the last quarter. Institutional investors and hedge funds own 63.18% of the company’s stock.

Reviva Pharmaceuticals Company Profile

Reviva Pharmaceuticals, Inc (NASDAQ: RVPH) is a specialty pharmaceutical company focused on the acquisition, development and commercialization of prescription drug products in the United States and select international markets. Founded in 2002 and headquartered in Coral Gables, Florida, Reviva targets under-promoted, off-patent pharmaceuticals for which novel dosage forms can enhance patient compliance and therapeutic outcomes.

The company’s core activities include the identification of FDA-approved drug candidates, formulation development to address niche or underserved patient populations—such as pediatric and orphan indications—and supporting regulatory filings.