Dova Pharmaceuticals Inc (NASDAQ:DOVA) Sees Significant Decrease in Short Interest

Dova Pharmaceuticals Inc (NASDAQ:DOVA) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 2,628,800 shares, a decline of 23.1% from the July 31st total of 3,420,600 shares. Currently, 20.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 388,100 shares, the days-to-cover ratio is currently 6.8 days.

DOVA has been the subject of several recent analyst reports. Evercore ISI upgraded Dova Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $15.00 target price for the company in a research report on Monday, July 1st. HC Wainwright boosted their target price on Dova Pharmaceuticals from $18.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. JPMorgan Chase & Co. boosted their target price on Dova Pharmaceuticals from $13.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, July 12th. Oppenheimer began coverage on Dova Pharmaceuticals in a report on Thursday, August 29th. They issued an “outperform” rating and a $30.00 price objective for the company. Finally, Wedbush began coverage on Dova Pharmaceuticals in a report on Wednesday, May 22nd. They issued an “outperform” rating and a $19.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating and six have issued a buy rating to the company. Dova Pharmaceuticals has a consensus rating of “Buy” and an average target price of $24.57.

In other Dova Pharmaceuticals news, major shareholder Life Sciences Maste Perceptive bought 85,104 shares of Dova Pharmaceuticals stock in a transaction that occurred on Thursday, July 11th. The stock was acquired at an average cost of $16.68 per share, for a total transaction of $1,419,534.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason Hoitt sold 2,387 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $13.81, for a total value of $32,964.47. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 610,916 shares of company stock valued at $8,689,169 and have sold 27,807 shares valued at $422,464. 60.30% of the stock is owned by insiders.



Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Investment Advisory Services LLC raised its position in Dova Pharmaceuticals by 222.2% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 2,900 shares of the company’s stock valued at $45,000 after purchasing an additional 2,000 shares during the last quarter. Quantamental Technologies LLC raised its position in shares of Dova Pharmaceuticals by 1,100.0% in the 2nd quarter. Quantamental Technologies LLC now owns 2,400 shares of the company’s stock worth $34,000 after acquiring an additional 2,200 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Dova Pharmaceuticals by 22.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 13,300 shares of the company’s stock worth $336,000 after acquiring an additional 2,400 shares in the last quarter. Doyle Wealth Management bought a new position in shares of Dova Pharmaceuticals in the 2nd quarter worth approximately $49,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Dova Pharmaceuticals by 6.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 67,386 shares of the company’s stock worth $951,000 after acquiring an additional 3,992 shares in the last quarter. 32.18% of the stock is owned by institutional investors.

Shares of DOVA traded down $0.05 during midday trading on Thursday, reaching $15.91. The stock had a trading volume of 70,665 shares, compared to its average volume of 249,325. The company’s 50-day moving average is $15.36 and its 200 day moving average is $11.58. Dova Pharmaceuticals has a 12-month low of $5.62 and a 12-month high of $25.09. The company has a current ratio of 5.64, a quick ratio of 5.37 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $453.19 million, a price-to-earnings ratio of -6.12 and a beta of 2.58.

Dova Pharmaceuticals (NASDAQ:DOVA) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.03). Dova Pharmaceuticals had a negative return on equity of 101.60% and a negative net margin of 544.09%. The firm had revenue of $3.52 million during the quarter, compared to analysts’ expectations of $5.63 million. Research analysts forecast that Dova Pharmaceuticals will post -2.43 EPS for the current fiscal year.

Dova Pharmaceuticals Company Profile

Dova Pharmaceuticals, Inc, a pharmaceutical company, focuses on acquiring, developing, and commercializing drug candidates for thrombocytopenia disease. The company's lead product candidate is DOPTELET that is indicated for the treatment of thrombocytopenia in adult patients with chronic liver disease scheduled to undergo a procedure.

Further Reading: What is the return on assets (ROA) ratio?

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