Pharvaris (NASDAQ:PHVS) Sees Unusually-High Trading Volume on Analyst Upgrade

Pharvaris N.V. (NASDAQ:PHVS) shares saw an uptick in trading volume on Monday after Morgan Stanley raised their price target on the stock from $34.00 to $37.00. Morgan Stanley currently has an overweight rating on the stock. 406,438 shares were traded during trading, an increase of 247% from the previous session’s volume of 117,104 shares.The stock last traded at $24.9150 and had previously closed at $23.55.

Several other research firms have also recently issued reports on PHVS. Bank of America raised shares of Pharvaris from an “underperform” rating to a “neutral” rating and upped their price target for the company from $16.00 to $27.00 in a report on Thursday, October 9th. HC Wainwright restated a “buy” rating and issued a $60.00 target price on shares of Pharvaris in a research note on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pharvaris in a research report on Wednesday, October 8th. Wedbush boosted their price objective on Pharvaris from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Zacks Research upgraded Pharvaris from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Pharvaris currently has an average rating of “Moderate Buy” and a consensus price target of $37.57.

Hedge Funds Weigh In On Pharvaris

A number of large investors have recently bought and sold shares of the business. General Atlantic L.P. boosted its stake in Pharvaris by 6.6% in the third quarter. General Atlantic L.P. now owns 8,031,252 shares of the company’s stock valued at $200,380,000 after acquiring an additional 500,000 shares during the period. Foresite Capital Management IV LLC raised its position in shares of Pharvaris by 8.3% during the 3rd quarter. Foresite Capital Management IV LLC now owns 4,778,581 shares of the company’s stock worth $119,226,000 after purchasing an additional 368,000 shares during the period. Deerfield Management Company L.P. lifted its holdings in shares of Pharvaris by 21.1% in the 3rd quarter. Deerfield Management Company L.P. now owns 2,442,464 shares of the company’s stock worth $60,939,000 after purchasing an additional 425,000 shares during the last quarter. Commodore Capital LP boosted its position in Pharvaris by 26.5% during the 3rd quarter. Commodore Capital LP now owns 2,418,476 shares of the company’s stock valued at $60,341,000 after purchasing an additional 507,043 shares during the period. Finally, Paradigm Biocapital Advisors LP grew its stake in Pharvaris by 72.7% during the 3rd quarter. Paradigm Biocapital Advisors LP now owns 1,835,494 shares of the company’s stock worth $45,796,000 after buying an additional 772,583 shares during the last quarter.

Pharvaris Price Performance

The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -7.74 and a beta of -2.78. The company has a 50-day simple moving average of $23.20 and a two-hundred day simple moving average of $20.69.

Pharvaris (NASDAQ:PHVS) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.08. Research analysts anticipate that Pharvaris N.V. will post -2.71 EPS for the current year.

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.