Pharvaris (NASDAQ:PHVS) Trading Up 6% – Here’s Why

Pharvaris (NASDAQ:PHVS) traded up 6% during trading on Thursday . The stock traded as high as $15.80 and last traded at $16.41. 3,241 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 69,529 shares. The stock had previously closed at $15.48.

Analyst Ratings Changes

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

Pharvaris Price Performance

The business’s 50 day simple moving average is $16.73 and its 200-day simple moving average is $18.93. The stock has a market capitalization of $826.18 million, a P/E ratio of -5.64 and a beta of -3.02.

Institutional Investors Weigh In On Pharvaris

Institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Pharvaris during the 3rd quarter worth about $906,000. HighVista Strategies LLC boosted its stake in Pharvaris by 35.9% during the 3rd 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 last quarter. Patient Square Capital LP acquired a new position in Pharvaris during the third quarter valued at approximately $4,488,000. State Street Corp bought a new stake in Pharvaris in the third quarter valued at approximately $1,000,000. Finally, Sphera Funds Management LTD. raised its holdings in Pharvaris by 8.9% in the third quarter. Sphera Funds Management LTD. now owns 439,292 shares of the company’s stock worth $8,136,000 after purchasing an additional 36,027 shares during the period.

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.