Short Interest in Phreesia, Inc. (NYSE:PHR) Declines By 17.6%

by · The Markets Daily

Phreesia, Inc. (NYSE:PHR – Get Free Report) saw a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 2,060,000 shares, a decrease of 17.6% from the February 13th total of 2,500,000 shares. Based on an average daily volume of 412,300 shares, the short-interest ratio is currently 5.0 days. Approximately 3.8% of the company’s shares are short sold.

Phreesia Price Performance

Phreesia stock traded up $1.81 during mid-day trading on Wednesday, hitting $29.08. The stock had a trading volume of 749,571 shares, compared to its average volume of 415,745. The firm has a market capitalization of $1.71 billion, a P/E ratio of -19.78 and a beta of 1.03. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average is $27.33 and its 200 day moving average is $24.04. Phreesia has a one year low of $17.07 and a one year high of $30.53.

Analysts Set New Price Targets

Several brokerages have commented on PHR. JMP Securities restated a “market outperform” rating and issued a $30.00 price objective on shares of Phreesia in a report on Tuesday, December 10th. Royal Bank of Canada upgraded shares of Phreesia from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $24.00 to $32.00 in a report on Wednesday, January 8th. Robert W. Baird lowered their price objective on shares of Phreesia from $34.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Piper Sandler reaffirmed an “overweight” rating and set a $33.00 target price (up previously from $31.00) on shares of Phreesia in a research note on Wednesday, January 29th. Finally, Truist Financial raised their target price on shares of Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, Phreesia presently has a consensus rating of “Buy” and an average price target of $31.33.

Get Our Latest Stock Analysis on Phreesia

Insider Transactions at Phreesia

In other news, CFO Balaji Gandhi sold 28,759 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $30.00, for a total transaction of $862,770.00. Following the completion of the sale, the chief financial officer now directly owns 116,174 shares in the company, valued at approximately $3,485,220. This represents a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Allison C. Hoffman sold 3,496 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $25.32, for a total transaction of $88,518.72. Following the sale, the general counsel now owns 139,134 shares of the company’s stock, valued at approximately $3,522,872.88. This represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 162,403 shares of company stock worth $4,610,249. Company insiders own 5.80% of the company’s stock.

Institutional Trading of Phreesia

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHR. Deerfield Management Company L.P. Series C grew its stake in Phreesia by 133.6% in the 4th quarter. Deerfield Management Company L.P. Series C now owns 1,271,832 shares of the company’s stock worth $31,999,000 after acquiring an additional 727,384 shares in the last quarter. Greenhouse Funds LLLP boosted its stake in shares of Phreesia by 27.9% during the fourth quarter. Greenhouse Funds LLLP now owns 2,873,892 shares of the company’s stock valued at $72,307,000 after purchasing an additional 626,579 shares in the last quarter. Park West Asset Management LLC bought a new position in shares of Phreesia during the fourth quarter valued at approximately $10,657,000. Millennium Management LLC boosted its stake in shares of Phreesia by 83.2% during the fourth quarter. Millennium Management LLC now owns 653,634 shares of the company’s stock valued at $16,445,000 after purchasing an additional 296,863 shares in the last quarter. Finally, ExodusPoint Capital Management LP boosted its stake in shares of Phreesia by 448.6% during the fourth quarter. ExodusPoint Capital Management LP now owns 174,971 shares of the company’s stock valued at $4,402,000 after purchasing an additional 143,077 shares in the last quarter. 92.10% of the stock is owned by hedge funds and other institutional investors.

Phreesia Company Profile

(Get Free Report)

Phreesia, Inc provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. The company offers access solutions that offers appointment scheduling system for online appointments, reminders, and referral tracking management; registration solution to automate patient self-registration; revenue cycle solution, which offer insurance-verification processes, point-of-sale payments applications, post-visit payment collection, and flexible payment options; and network connect solution to deliver clinically relevant content to patients.

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