PhaseBio Pharmaceuticals (PHAS) Hits New 52-Week Low at $4.72

PhaseBio Pharmaceuticals Inc (NASDAQ:PHAS)’s share price hit a new 52-week low on Monday . The company traded as low as $4.72 and last traded at $4.74, with a volume of 24692 shares. The stock had previously closed at $5.01.

PHAS has been the topic of a number of research analyst reports. Citigroup initiated coverage on PhaseBio Pharmaceuticals in a research note on Monday. They issued a “buy” rating and a $18.00 target price on the stock. Stifel Nicolaus initiated coverage on PhaseBio Pharmaceuticals in a research note on Monday. They issued a “buy” rating and a $14.00 target price on the stock. Finally, Cowen initiated coverage on shares of PhaseBio Pharmaceuticals in a report on Monday. They issued an “outperform” rating on the stock.

In related news, major shareholder Venture Advisors Iii Hatteras purchased 300,000 shares of the stock in a transaction that occurred on Monday, October 22nd. The shares were bought at an average price of $5.00 per share, with a total value of $1,500,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Linda Tufts purchased 20,000 shares of the stock in a transaction that occurred on Monday, October 22nd. The stock was bought at an average cost of $5.00 per share, for a total transaction of $100,000.00. The disclosure for this purchase can be found here.

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About PhaseBio Pharmaceuticals (NASDAQ:PHAS)

PhaseBio Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapies to treat orphan diseases with an initial focus on cardiopulmonary indications. Its lead product candidate, PB2452, is a reversal agent for the antiplatelet drug ticagrelor that has completed a Phase 1 clinical trial and is been developed for the treatment of patients on ticagrelor who are experiencing a major bleeding event or those who require urgent surgery.

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