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

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

Wall Street Analysts Forecast Growth

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

Reviva Pharmaceuticals Price Performance

Shares of RVPH traded up $0.05 during midday trading on Friday, reaching $1.89. 944,690 shares of the stock were exchanged, compared to its average volume of 2,252,533. The company has a market capitalization of $63.20 million, a price-to-earnings ratio of -1.70 and a beta of -0.12. Reviva Pharmaceuticals has a twelve month low of $0.60 and a twelve month high of $4.83. The business's 50-day moving average price is $1.77 and its 200 day moving average price is $1.36.

Hedge Funds Weigh In On Reviva Pharmaceuticals

A number of hedge funds have recently modified their holdings of RVPH. Geode Capital Management LLC increased 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 acquiring an additional 42,376 shares during the period. EMC Capital Management lifted its holdings in shares of Reviva Pharmaceuticals by 142.0% during the fourth quarter. EMC Capital Management now owns 44,535 shares of the company's stock worth $81,000 after purchasing an additional 26,134 shares during the period. Finally, Drive Wealth Management LLC acquired a new position in Reviva Pharmaceuticals in the 4th quarter valued at $36,000. 63.18% of the stock is currently owned by hedge funds and other institutional investors.

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.