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

Reviva Pharmaceuticals Holdings, Inc. (NASDAQ:RVPH) was the target of a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 809,588 shares, a drop of 95.9% from the February 26th total of 19,875,318 shares. Based on an average trading volume of 254,944 shares, the days-to-cover ratio is currently 3.2 days. Approximately 13.8% of the company’s shares are short sold. Approximately 13.8% of the company’s shares are short sold. Based on an average trading volume of 254,944 shares, the days-to-cover ratio is currently 3.2 days.

Hedge Funds Weigh In On Reviva Pharmaceuticals

Several large investors have recently made changes to their positions in RVPH. Geode Capital Management LLC lifted its stake in Reviva Pharmaceuticals by 6.9% during the 2nd quarter. Geode Capital Management LLC now owns 448,202 shares of the company’s stock worth $171,000 after acquiring an additional 29,063 shares in the last quarter. NewEdge Advisors LLC acquired a new position in Reviva Pharmaceuticals in the 1st quarter valued at about $58,000. XTX Topco Ltd grew its position in Reviva Pharmaceuticals by 63.6% in the 4th 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 in the last quarter. Lido Advisors LLC purchased a new stake in Reviva Pharmaceuticals during the third quarter worth about $37,000. Finally, Millennium Management LLC lifted 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 in the last quarter. 63.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RVPH. Chardan Capital reissued a “buy” rating and set a $40.00 price target on shares of Reviva Pharmaceuticals in a research report on Monday, January 5th. D. Boral Capital cut shares of Reviva Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, March 5th. HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Reviva Pharmaceuticals in a report on Tuesday, December 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Reviva Pharmaceuticals in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of Reviva Pharmaceuticals to a “sell” rating in a report on Saturday, March 14th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Reviva Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $66.67.

Reviva Pharmaceuticals Price Performance

Shares of NASDAQ:RVPH traded down $0.07 during midday trading on Tuesday, reaching $0.83. 708,244 shares of the company’s stock were exchanged, compared to its average volume of 432,456. The stock has a market cap of $5.33 million, a price-to-earnings ratio of -0.09 and a beta of 0.10. Reviva Pharmaceuticals has a fifty-two week low of $0.67 and a fifty-two week high of $23.40. The firm’s 50 day simple moving average is $4.77 and its two-hundred day simple moving average is $8.14.

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.