Pharvaris (NASDAQ:PHVS) Trading 5.5% Higher – Here’s Why

Pharvaris (NASDAQ:PHVS) traded up 5.5% on Friday . The company traded as high as $15.79 and last traded at $16.32. 4,433 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 70,040 shares. The stock had previously closed at $15.46.

Wall Street Analyst Weigh In

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

Pharvaris Price Performance

The stock has a market capitalization of $849.19 million, a price-to-earnings ratio of -5.80 and a beta of -3.02. The stock has a 50-day moving average of $16.92 and a 200 day moving average of $19.06.

Institutional Investors Weigh In On Pharvaris

Institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio bought a new position in Pharvaris in the third quarter valued at approximately $57,000. JPMorgan Chase & Co. lifted its stake in shares of Pharvaris by 1,125.3% in the 4th 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. Cubist Systematic Strategies LLC bought a new position in shares of Pharvaris in the 4th quarter worth $64,000. Barclays PLC acquired a new stake in shares of Pharvaris during the third quarter worth $106,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Pharvaris in the fourth 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.