PhaseBio Pharmaceuticals, Inc. (NASDAQ:PHAS – Get Rating) major shareholder Enterprise Associates 13 L. New sold 1,784,109 shares of the firm's stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $0.15, for a total transaction of $267,616.35. Following the completion of the sale, the insider now owns 4,857,525 shares of the company's stock, valued at $728,628.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
PhaseBio Pharmaceuticals Stock Performance
Shares of NASDAQ PHAS opened at $0.13 on Friday. The company has a market capitalization of $6.57 million, a price-to-earnings ratio of -0.06 and a beta of 2.87. The company has a 50 day simple moving average of $0.68 and a two-hundred day simple moving average of $0.87. PhaseBio Pharmaceuticals, Inc. has a fifty-two week low of $0.12 and a fifty-two week high of $4.08.
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PhaseBio Pharmaceuticals (NASDAQ:PHAS – Get Rating) last announced its quarterly earnings results on Friday, August 12th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The company had revenue of $0.21 million for the quarter, compared to the consensus estimate of $2.50 million.
Institutional Investors Weigh In On PhaseBio Pharmaceuticals
Several institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC bought a new stake in shares of PhaseBio Pharmaceuticals during the second quarter valued at approximately $68,000. Prudential Financial Inc. bought a new stake in shares of PhaseBio Pharmaceuticals during the second quarter valued at approximately $26,000. MAI Capital Management grew its position in PhaseBio Pharmaceuticals by 20.5% in the 2nd quarter. MAI Capital Management now owns 1,709,104 shares of the company's stock worth $1,025,000 after purchasing an additional 290,825 shares during the period. Virtu Financial LLC bought a new stake in PhaseBio Pharmaceuticals in the 1st quarter worth approximately $41,000. Finally, Rock Springs Capital Management LP grew its position in PhaseBio Pharmaceuticals by 1.3% in the 1st quarter. Rock Springs Capital Management LP now owns 2,613,825 shares of the company's stock worth $3,450,000 after purchasing an additional 32,526 shares during the period. Institutional investors own 49.02% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have commented on PHAS shares. Cowen lowered shares of PhaseBio Pharmaceuticals from an "outperform" rating to a "market perform" rating in a report on Monday. Cowen downgraded shares of PhaseBio Pharmaceuticals to a "market perform" rating in a research note on Monday. Stifel Nicolaus downgraded shares of PhaseBio Pharmaceuticals from a "buy" rating to a "hold" rating and decreased their target price for the company from $15.00 to $1.00 in a research note on Wednesday, September 28th. Needham & Company LLC downgraded shares of PhaseBio Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Wednesday, September 28th. Finally, William Blair downgraded shares of PhaseBio Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research note on Wednesday, September 28th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $4.50.
PhaseBio Pharmaceuticals Company Profile
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PhaseBio Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company, which engages in the development and commercialization of novel therapies for cardiovascular diseases. The firm's pipeline includes: bentracimab (PB2452), a novel reversal agent for the antiplatelet therapy ticagrelor, pemziviptadil (PB1046), a once-weekly vasoactive intestinal peptide receptor agonist for the treatment of pulmonary arterial hypertension, and PB6440, an oral agent for the treatment of resistant hypertension.
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