Bellerophon Therapeutics (BLPH) Sees Large Volume Increase on Better-Than-Expected Earnings

Shares of Bellerophon Therapeutics Inc (NASDAQ:BLPH) saw unusually-strong trading volume on Thursday after the company announced better than expected quarterly earnings. Approximately 942,176 shares traded hands during mid-day trading, an increase of 101% from the previous session’s volume of 469,003 shares.The stock last traded at $1.10 and had previously closed at $0.97.

The biotechnology company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.30.

Several analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $3.00 price objective on shares of Bellerophon Therapeutics in a research note on Thursday, August 9th. Zacks Investment Research cut shares of Bellerophon Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, August 6th.

In other Bellerophon Therapeutics news, major shareholder Associates Iv L. P. Venrock purchased 160,000 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The stock was purchased at an average cost of $0.86 per share, with a total value of $137,600.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Associates Iv L. P. Venrock purchased 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were acquired at an average cost of $0.85 per share, with a total value of $42,500.00. The disclosure for this purchase can be found here. Insiders have bought a total of 1,699,370 shares of company stock valued at $1,672,941 over the last three months. Corporate insiders own 57.80% of the company’s stock.

An institutional investor recently raised its position in Bellerophon Therapeutics stock. Renaissance Technologies LLC increased its holdings in shares of Bellerophon Therapeutics Inc (NASDAQ:BLPH) by 12.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,159,200 shares of the biotechnology company’s stock after purchasing an additional 126,300 shares during the period. Renaissance Technologies LLC owned 2.01% of Bellerophon Therapeutics worth $2,805,000 as of its most recent filing with the Securities and Exchange Commission. 58.49% of the stock is currently owned by hedge funds and other institutional investors.

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Bellerophon Therapeutics Company Profile (NASDAQ:BLPH)

Bellerophon Therapeutics, Inc, a clinical-stage therapeutics company, focuses on the development of products at the intersection of drugs and devices for the treatment of cardiopulmonary diseases. The company offers INOpulse, a pulsatile nitric oxide delivery device, which is in Phase III clinical trials for the treatment of pulmonary arterial hypertension; and has completed Phase II clinical trials to treat pulmonary hypertension associated with chronic obstructive pulmonary diseases and pulmonary hypertension associated with idiopathic pulmonary fibrosis.

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