Pharvaris (NASDAQ:PHVS) Shares Down 3.5% – Here’s Why

Shares of Pharvaris (NASDAQ:PHVS) were down 3.5% on Tuesday . The company traded as low as $18.36 and last traded at $18.36. Approximately 4,298 shares traded hands during trading, a decline of 95% from the average daily volume of 87,379 shares. The stock had previously closed at $19.02.

Analyst Ratings Changes

Separately, Oppenheimer raised their price target on Pharvaris from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, September 6th.

Pharvaris Stock Performance

The company has a fifty day moving average of $21.02 and a two-hundred day moving average of $19.36. The firm has a market capitalization of $603.37 million, a price-to-earnings ratio of -6.77 and a beta of -3.17.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PHVS. Barclays PLC acquired a new position in shares of Pharvaris in the 3rd quarter worth approximately $106,000. Geode Capital Management LLC grew its holdings in Pharvaris by 18.4% during the third quarter. Geode Capital Management LLC now owns 36,977 shares of the company’s stock worth $685,000 after buying an additional 5,753 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Pharvaris during the 3rd quarter valued at $57,000. Jane Street Group LLC bought a new position in shares of Pharvaris during the third quarter valued at about $526,000. Finally, Sphera Funds Management LTD. boosted its holdings in Pharvaris by 8.9% during the third quarter. Sphera Funds Management LTD. now owns 439,292 shares of the company’s stock worth $8,136,000 after purchasing an additional 36,027 shares during the last quarter.

Pharvaris Company Profile

Pharvaris N.V., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapies for rare diseases. The company develops PHA121, a small molecule bradykinin B2-receptor antagonist for the treatment of hereditary angioedema (HAE). It also develops PHVS416, an on-demand, rapid exposure soft capsule for patients suffering from acute HAE attacks which is under Phase 2 clinical trial; and PHVS719, a prophylactic extended-release tablet for HAE patients which is under Phase 1 clinical trial.