Pear Therapeutics, Inc. (NASDAQ:PEAR – Get Rating) was the target of a significant drop in short-term interest during the month of May. As of May 31, there was short interest totaling 1,150,000 shares, down 19.6% from the May 15 total of 1,430,000 shares. Currently, 1.9% of the company’s shares are sold short. Based on an average trading volume of 319,800 shares, the day-to-cover ratio is currently 3.6 days.

Pear Therapeutics stock traded down $0.07 at midday on Friday, hitting $2.05. 2,718 shares of the company were traded, against an average volume of 410,553. Pear Therapeutics has a 1-year low of $1.72 and a 1-year high of $14.60. The company has a 50-day moving average price of $4.17.

Pear Therapeutics (NASDAQ:PEAR – Get Rating) last released its quarterly results on Monday, March 28. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analyst consensus estimates of ($0.23) by ($0.01). The company had revenue of $1.32 million for the quarter. Equity research analysts expect Pear Therapeutics to post year-to-date EPS of -0.88.

PEAR has been the subject of a number of research reports. Chardan Capital reaffirmed a “buy” rating on Pear Therapeutics shares in a research note on Monday. Citigroup raised its price target on Pear Therapeutics shares from $10.00 to $11.00 and gave the stock a “buy” rating in a Tuesday, May 17 research note. One equity research analyst gave the stock a hold rating and four gave the stock a buy rating. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $11.75.

A number of hedge funds have recently increased or reduced their holdings in PEAR. Roble Belko & Company Inc purchased a new stake in Pear Therapeutics during the fourth quarter valued at approximately $28,000. BerganKDV Wealth Management LLC purchased a new stake in Pear Therapeutics during the fourth quarter, valued at approximately $28,000. Penserra Capital Management LLC purchased a new stake in Pear Therapeutics during the fourth quarter, valued at approximately $37,000. Bank of New York Mellon Corp acquired a new stake in Pear Therapeutics during the first quarter, valued at approximately $58,000. Finally, Magnus Financial Group LLC purchased a new stake in Pear Therapeutics during the first quarter valued at approximately $60,000. Institutional investors hold 53.66% of the company’s shares.

About Pear Therapeutics (Get a rating)

Pear Therapeutics, Inc., a commercial-stage healthcare company, develops and sells software medicines. Its commercial products are reSET for the treatment of substance use disorders related to alcohol, cannabis, cocaine and stimulants; reSET-O for the treatment of opioid use disorder in combination with buprenorphine; and Somryst, chronic insomnia treatment software.

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