Pharvaris (NASDAQ:PHVS) Shares Gap Down – Time to Sell?

Pharvaris (NASDAQ:PHVS) gapped down prior to trading on Friday . The stock had previously closed at $18.26, but opened at $17.81. Pharvaris shares last traded at $18.03, with a volume of 2,626 shares trading hands.

Analyst Ratings Changes

Separately, JMP Securities boosted their target price on Pharvaris from $46.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Friday, January 31st.

Pharvaris Trading Down 3.4 %

The company has a market cap of $922.34 million, a PE ratio of -6.26 and a beta of -3.07. The firm has a 50 day moving average of $18.57 and a two-hundred day moving average of $19.33.

Hedge Funds Weigh In On Pharvaris

Hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new position in Pharvaris in the 3rd quarter worth $57,000. Barclays PLC purchased a new stake in Pharvaris in the 3rd quarter worth $106,000. Palumbo Wealth Management LLC purchased a new position in shares of Pharvaris during the fourth quarter valued at about $196,000. HighVista Strategies LLC grew its position in shares of Pharvaris by 35.9% during the third quarter. HighVista Strategies LLC now owns 22,768 shares of the company’s stock valued at $422,000 after purchasing an additional 6,018 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in Pharvaris in the third quarter worth about $526,000.

About Pharvaris

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.