Aravive Inc (NASDAQ:ARAV) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 1,020,000 shares, an increase of 15.5% from the June 30th total of 883,400 shares. Currently, 11.4% of the shares of the stock are sold short. Based on an average daily volume of 180,700 shares, the days-to-cover ratio is currently 5.6 days.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new position in shares of Aravive in the 1st quarter worth $32,000. Jane Street Group LLC acquired a new stake in shares of Aravive in the first quarter worth $83,000. Wedbush Securities Inc. acquired a new stake in shares of Aravive in the first quarter worth $92,000. Invesco Ltd. acquired a new stake in shares of Aravive in the first quarter worth $96,000. Finally, Wells Fargo & Company MN boosted its position in shares of Aravive by 22.3% in the first quarter. Wells Fargo & Company MN now owns 19,843 shares of the company’s stock worth $114,000 after buying an additional 3,616 shares during the period. Institutional investors and hedge funds own 41.74% of the company’s stock.
Shares of NASDAQ ARAV opened at $5.89 on Friday. The company has a quick ratio of 12.36, a current ratio of 12.36 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $94.22 million, a price-to-earnings ratio of -3.13 and a beta of 3.52. The stock’s fifty day simple moving average is $11.52 and its 200 day simple moving average is $10.26. Aravive has a 52-week low of $3.34 and a 52-week high of $15.62.
ARAV has been the topic of several research analyst reports. Zacks Investment Research cut Aravive from a “buy” rating to a “hold” rating in a research report on Tuesday, May 12th. ValuEngine upgraded Aravive from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, HC Wainwright lifted their price target on Aravive from $15.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $24.30.
Aravive, Inc, a clinical stage biotechnology company, focuses on developing therapies for solid tumors and hematologic malignancies. Its lead candidate is AVB-S6-500, a soluble Fc-fusion protein, which is in Phase 1b/2 clinical trials for the treatment of platinum- resistant recurrent ovarian cancer, as well as for the treatment of clear cell renal cell carcinoma, acute myeloid leukemia, triple negative breast cancer, and pancreatic cancer.
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