Pharvaris (NASDAQ:PHVS) Trading Down 5.7% – What’s Next?

Shares of Pharvaris (NASDAQ:PHVS) fell 5.7% during mid-day trading on Wednesday . The stock traded as low as $14.98 and last traded at $14.57. 93,257 shares traded hands during trading, an increase of 100% from the average session volume of 46,548 shares. The stock had previously closed at $15.45.

Wall Street Analyst Weigh In

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

Pharvaris Stock Performance

The firm has a fifty day simple moving average of $17.49 and a 200-day simple moving average of $19.21. The company has a market capitalization of $784.87 million, a PE ratio of -5.36 and a beta of -3.02.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Jane Street Group LLC bought a new stake in Pharvaris in the third quarter valued at $526,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Pharvaris in the third quarter valued at $906,000. State Street Corp bought a new stake in Pharvaris in the third quarter valued at $1,000,000. Geode Capital Management LLC lifted its stake in Pharvaris by 18.4% in the third quarter. Geode Capital Management LLC now owns 36,977 shares of the company’s stock valued at $685,000 after buying an additional 5,753 shares during the last quarter. Finally, Barclays PLC bought a new stake in Pharvaris in the third quarter valued at $106,000.

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.