PhaseBio Pharmaceuticals Inc. [PHAS] stock Downgrade by Stifel analyst, price target now $1

PhaseBio Pharmaceuticals Inc. [NASDAQ: PHAS] price plunged by -28.87 percent to reach at -$0.06. The company report on October 24, 2022 that PhaseBio Plans for Near-Term Sale Using Structured Process Through Chapter 11 of U.S. Bankruptcy Code.


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Bidding Process and Auction Projected to Conclude December 2022.

PhaseBio Pharmaceuticals, Inc. (Nasdaq: PHAS), a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapies for cardiovascular diseases, today announced that it has elected to file a voluntary petition under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. As part of the case, PhaseBio also intends to file a motion seeking authorization to pursue an auction and sale process under Section 363 of the U.S. Bankruptcy Code. The proposed bidding procedures, if approved by the court, would require interested parties to submit binding offers to acquire PhaseBio’s bentracimab program assets, which would be purchased free and clear of liens and interests.

A sum of 7472699 shares traded at recent session while its average daily volume was at 504.38K shares. PhaseBio Pharmaceuticals Inc. shares reached a high of $0.2091 and dropped to a low of $0.12 until finishing in the latest session at $0.14.

The one-year PHAS stock forecast points to a potential upside of 86.0. The average equity rating for PHAS stock is currently 2.60, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on PhaseBio Pharmaceuticals Inc. [PHAS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PHAS shares is $1.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PHAS stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stifel have made an estimate for PhaseBio Pharmaceuticals Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on September 28, 2022. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on October 13, 2021, representing the official price target for PhaseBio Pharmaceuticals Inc. stock. Previously, the target price had yet another raise from $18 to $19, while Needham kept a Buy rating on PHAS stock. On July 10, 2020, analysts decreased their price target for PHAS shares from 14 to 11.

The Average True Range (ATR) for PhaseBio Pharmaceuticals Inc. is set at 0.06, with the Price to Sales ratio for PHAS stock in the period of the last 12 months amounting to 8.81.

PHAS Stock Performance Analysis:

PhaseBio Pharmaceuticals Inc. [PHAS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -28.48. With this latest performance, PHAS shares dropped by -82.32% in over the last four-week period, additionally sinking by -89.86% over the last 6 months – not to mention a drop of -96.48% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PHAS stock in for the last two-week period is set at 17.63, with the RSI for the last a single of trading hit 14.59, and the three-weeks RSI is set at 22.65 for PhaseBio Pharmaceuticals Inc. [PHAS]. The present Moving Average for the last 50 days of trading for this stock 0.7289, while it was recorded at 0.1844 for the last single week of trading, and 1.0910 for the last 200 days.

Insight into PhaseBio Pharmaceuticals Inc. Fundamentals:

PhaseBio Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.

PhaseBio Pharmaceuticals Inc. [PHAS] Insider Position Details

There are presently around $3 million, or 55.20% of PHAS stock, in the hands of institutional investors. The top three institutional holders of PHAS stocks are: NEA MANAGEMENT COMPANY, LLC with ownership of 6,643,702, which is approximately 0% of the company’s market cap and around 0.60% of the total institutional ownership; AVIDITY PARTNERS MANAGEMENT LP, holding 4,405,000 shares of the stock with an approximate value of $0.62 million in PHAS stocks shares; and ROCK SPRINGS CAPITAL MANAGEMENT LP, currently with $0.39 million in PHAS stock with ownership of nearly 6.161% of the company’s market capitalization.

17 institutional holders increased their position in PhaseBio Pharmaceuticals Inc. [NASDAQ:PHAS] by around 1,673,128 shares. Additionally, 27 investors decreased positions by around 7,679,666 shares, while 18 investors held positions by with 14,070,441 shares. The mentioned changes placed institutional holdings at 23,423,235 shares, according to the latest SEC report filing. PHAS stock had 6 new institutional investments in for a total of 1,024,321 shares, while 13 institutional investors sold positions of 7,067,430 shares during the same period.

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