Pharvaris (NASDAQ:PHVS) Trading Down 5.7% – What’s Next?

Pharvaris (NASDAQ:PHVS)’s stock price was down 5.7% during mid-day trading on Wednesday . The company traded as low as $14.98 and last traded at $14.57. Approximately 93,257 shares were traded during mid-day trading, an increase of 100% from the average daily volume of 46,548 shares. The stock had previously closed at $15.45.

Wall Street Analyst Weigh In

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

Pharvaris Trading Down 2.8 %

The firm has a market capitalization of $784.87 million, a price-to-earnings ratio of -5.36 and a beta of -3.02. The firm has a 50 day moving average price of $17.49 and a two-hundred day moving average price of $19.21.

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 acquired a new position in shares of Pharvaris in the 3rd quarter valued at about $57,000. JPMorgan Chase & Co. raised its holdings in shares of Pharvaris by 1,125.3% during the 4th quarter. JPMorgan Chase & Co. now owns 3,100 shares of the company’s stock valued at $59,000 after buying an additional 2,847 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Pharvaris during the 4th quarter valued at about $64,000. Barclays PLC purchased a new stake in shares of Pharvaris during the 3rd quarter valued at about $106,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Pharvaris during the 4th quarter valued at about $111,000.

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.