Pharvaris (NASDAQ:PHVS) Sees Large Volume Increase – Here’s What Happened

Shares of Pharvaris (NASDAQ:PHVS) saw strong trading volume on Thursday . 52,867 shares changed hands during mid-day trading, an increase of 12% from the previous session’s volume of 47,296 shares.The stock last traded at $17.44 and had previously closed at $17.17.

Wall Street Analysts Forecast Growth

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

Pharvaris Price Performance

The stock has a 50-day simple moving average of $18.49 and a 200 day simple moving average of $19.33.

Hedge Funds Weigh In On Pharvaris

Several hedge funds have recently added to or reduced their stakes in the company. Palumbo Wealth Management LLC acquired a new position in Pharvaris during the 4th quarter valued at about $196,000. Barclays PLC acquired a new position in Pharvaris in the third quarter valued at approximately $106,000. Geode Capital Management LLC boosted 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 acquiring an additional 5,753 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Pharvaris during the 3rd quarter worth $57,000. Finally, Jane Street Group LLC acquired a new stake in Pharvaris during the 3rd quarter worth $526,000.

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.