Pharvaris (NASDAQ:PHVS) Shares Up 6% – Here’s Why

Pharvaris (NASDAQ:PHVS) rose 6% during trading on Thursday . The company traded as high as $15.80 and last traded at $16.41. Approximately 3,241 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 69,529 shares. The stock had previously closed at $15.48.

Analysts Set New Price Targets

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

Pharvaris Trading Up 2.2 %

The stock has a market capitalization of $827.49 million, a P/E ratio of -5.65 and a beta of -3.02. The business has a 50-day moving average price of $16.81 and a two-hundred day moving average price of $18.99.

Hedge Funds Weigh In On Pharvaris

Several hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc lifted its stake in Pharvaris by 11.2% in the 4th quarter. Legal & General Group Plc now owns 9,855 shares of the company’s stock valued at $189,000 after purchasing an additional 994 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Pharvaris by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 38,333 shares of the company’s stock worth $735,000 after purchasing an additional 1,356 shares during the period. Deutsche Bank AG increased its holdings in Pharvaris by 13.0% in the fourth quarter. Deutsche Bank AG now owns 18,168 shares of the company’s stock valued at $348,000 after purchasing an additional 2,087 shares during the period. JPMorgan Chase & Co. increased its holdings in Pharvaris by 1,125.3% in the fourth quarter. JPMorgan Chase & Co. now owns 3,100 shares of the company’s stock valued at $59,000 after purchasing an additional 2,847 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in Pharvaris during the 3rd quarter worth $57,000.

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.