Correvio Pharma Corp (NASDAQ:CORV) Short Interest Down 20.2% in October

Correvio Pharma Corp (NASDAQ:CORV) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 491,500 shares, a decrease of 20.2% from the September 30th total of 616,100 shares. Based on an average trading volume of 143,500 shares, the short-interest ratio is currently 3.4 days. Currently, 1.9% of the shares of the stock are sold short.

CORV stock traded down $0.01 during mid-day trading on Thursday, reaching $2.19. The company’s stock had a trading volume of 211,300 shares, compared to its average volume of 156,086. The company’s 50 day moving average is $1.98 and its two-hundred day moving average is $2.13. The stock has a market cap of $121.25 million, a PE ratio of -2.46 and a beta of 0.49. The company has a current ratio of 1.68, a quick ratio of 1.45 and a debt-to-equity ratio of 7.21. Correvio Pharma has a fifty-two week low of $1.43 and a fifty-two week high of $4.44.

Correvio Pharma (NASDAQ:CORV) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.05). The firm had revenue of $7.39 million for the quarter, compared to analyst estimates of $7.64 million. Correvio Pharma had a negative return on equity of 575.20% and a negative net margin of 107.91%. On average, analysts forecast that Correvio Pharma will post -0.72 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in CORV. LPL Financial LLC increased its holdings in shares of Correvio Pharma by 177.1% during the 2nd quarter. LPL Financial LLC now owns 63,855 shares of the company’s stock worth $138,000 after buying an additional 40,815 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Correvio Pharma by 45.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 105,623 shares of the company’s stock worth $228,000 after buying an additional 33,250 shares during the last quarter. ARS Investment Partners LLC increased its holdings in shares of Correvio Pharma by 24.9% during the 2nd quarter. ARS Investment Partners LLC now owns 422,123 shares of the company’s stock worth $912,000 after buying an additional 84,255 shares during the last quarter. River & Mercantile Asset Management LLP acquired a new stake in shares of Correvio Pharma during the 2nd quarter worth approximately $1,212,000. Finally, Tamarack Advisers LP increased its holdings in shares of Correvio Pharma by 39.6% during the 2nd quarter. Tamarack Advisers LP now owns 3,350,000 shares of the company’s stock worth $7,437,000 after buying an additional 950,000 shares during the last quarter. Institutional investors and hedge funds own 39.77% of the company’s stock.

A number of analysts have commented on the stock. Cantor Fitzgerald assumed coverage on shares of Correvio Pharma in a report on Tuesday, September 3rd. They issued an “overweight” rating and a $6.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Correvio Pharma in a report on Thursday, August 15th. Finally, ValuEngine upgraded shares of Correvio Pharma from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $6.75.

Correvio Pharma Company Profile

Correvio Pharma Corp. operates as a pharmaceutical company, which engages in the provision of development and commercialization of medical products. It operates through the Europe and Rest of the World geographical segments. The firm focuses on cardiovascular therapies that will improve the quality of life and health of patients suffering from heart disease.

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