Morgan Stanley Reiterates “Overweight” Rating for Pharvaris (NASDAQ:PHVS)

Pharvaris (NASDAQ:PHVS)‘s stock had its “overweight” rating restated by research analysts at Morgan Stanley in a research note issued on Monday, Benzinga reports. They currently have a $34.00 price target on the stock. Morgan Stanley’s target price suggests a potential upside of 59.70% from the stock’s current price.

PHVS has been the topic of several other reports. JMP Securities lifted their target price on Pharvaris from $49.00 to $50.00 and gave the stock a “market outperform” rating in a report on Thursday, April 11th. Wedbush reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Pharvaris in a report on Thursday, April 11th.

Pharvaris Stock Up 2.0 %

Shares of PHVS stock opened at $21.29 on Monday. Pharvaris has a 12-month low of $7.93 and a 12-month high of $33.00. The stock’s 50-day moving average price is $23.73 and its 200-day moving average price is $23.34.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blackstone Inc. purchased a new position in Pharvaris in the fourth quarter worth about $2,805,000. venBio Partners LLC grew its position in Pharvaris by 15.4% in the fourth quarter. venBio Partners LLC now owns 4,919,504 shares of the company’s stock worth $137,992,000 after acquiring an additional 654,832 shares in the last quarter. Commodore Capital LP purchased a new position in Pharvaris in the fourth quarter worth about $22,440,000. Vivo Capital LLC purchased a new position in Pharvaris in the fourth quarter worth about $7,994,000. Finally, Hudson Bay Capital Management LP purchased a new position in Pharvaris in the third quarter worth about $812,000.

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 that is in Phase II clinical trial for the treatment of hereditary angioedema (HAE).