Pharvaris (NASDAQ:PHVS) Stock Price Down 4.3% – Here’s What Happened

Pharvaris (NASDAQ:PHVS) shares dropped 4.3% during trading on Tuesday . The company traded as low as $14.50 and last traded at $15.02. Approximately 7,303 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 71,851 shares. The stock had previously closed at $15.70.

Wall Street Analysts Forecast Growth

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

Pharvaris Price Performance

The firm has a market capitalization of $774.41 million, a PE ratio of -5.29 and a beta of -3.02. The company has a 50-day moving average price of $16.67 and a 200 day moving average price of $18.87.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio purchased a new position in shares of Pharvaris in the third quarter worth $57,000. JPMorgan Chase & Co. lifted its stake in Pharvaris by 1,125.3% in the 4th quarter. JPMorgan Chase & Co. now owns 3,100 shares of the company’s stock worth $59,000 after purchasing an additional 2,847 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Pharvaris during the 4th quarter valued at about $64,000. Barclays PLC purchased a new position in shares of Pharvaris during the third quarter valued at about $106,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Pharvaris in the fourth quarter worth about $111,000.

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.