Pharvaris (NASDAQ:PHVS) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Pharvaris (NASDAQ:PHVS) saw unusually-strong trading volume on Monday . Approximately 59,087 shares traded hands during trading, an increase of 80% from the previous session’s volume of 32,825 shares.The stock last traded at $16.53 and had previously closed at $16.50.

Analyst Upgrades and Downgrades

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

Pharvaris Price Performance

The firm has a market capitalization of $808.40 million, a price-to-earnings ratio of -5.52 and a beta of -3.07. The stock has a fifty day moving average of $17.99 and a two-hundred day moving average of $19.34.

Institutional Trading of Pharvaris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Pharvaris during the 3rd quarter worth approximately $906,000. HighVista Strategies LLC lifted its holdings in Pharvaris by 35.9% during the third quarter. HighVista Strategies LLC now owns 22,768 shares of the company’s stock worth $422,000 after acquiring an additional 6,018 shares during the period. Patient Square Capital LP purchased a new position in Pharvaris in the third quarter worth $4,488,000. State Street Corp purchased a new position in Pharvaris in the third quarter worth $1,000,000. Finally, Sphera Funds Management LTD. grew its stake in Pharvaris by 8.9% in the 3rd quarter. Sphera Funds Management LTD. now owns 439,292 shares of the company’s stock valued at $8,136,000 after purchasing an additional 36,027 shares during the period.

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.