PhaseBio Pharmaceuticals Inc (NASDAQ:PHAS) shot up 12.7% during trading on Friday . The company traded as high as $3.95 and last traded at $3.72. 620,138 shares changed hands during mid-day trading, an increase of 1,667% from the average session volume of 35,091 shares. The stock had previously closed at $3.30.

Separately, ValuEngine downgraded PhaseBio Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. PhaseBio Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $16.67.

Large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in PhaseBio Pharmaceuticals in the fourth quarter valued at $79,000. United Services Automobile Association acquired a new position in PhaseBio Pharmaceuticals in the fourth quarter valued at $286,000. Citigroup Inc. acquired a new position in PhaseBio Pharmaceuticals in the fourth quarter valued at $351,000. Finally, Millennium Management LLC acquired a new position in PhaseBio Pharmaceuticals in the fourth quarter valued at $411,000. 28.07% of the stock is owned by institutional investors and hedge funds.

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PhaseBio Pharmaceuticals Company Profile (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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