Pharvaris (NASDAQ:PHVS) Sees Strong Trading Volume – Should You Buy?

Pharvaris N.V. (NASDAQ:PHVS) saw unusually-strong trading volume on Thursday . Approximately 238,431 shares traded hands during trading, an increase of 57% from the previous session’s volume of 151,703 shares.The stock last traded at $27.0750 and had previously closed at $26.15.

Analyst Ratings Changes

Several brokerages have issued reports on PHVS. Wall Street Zen cut Pharvaris from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Leerink Partners set a $38.00 price objective on shares of Pharvaris in a research note on Wednesday, December 3rd. Royal Bank Of Canada started coverage on shares of Pharvaris in a report on Monday, March 9th. They issued an “outperform” rating and a $52.00 price objective on the stock. Guggenheim boosted their target price on shares of Pharvaris from $32.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Finally, Oppenheimer upped their target price on shares of Pharvaris from $44.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $41.70.

Pharvaris Stock Up 5.1%

The company has a fifty day simple moving average of $26.83 and a 200-day simple moving average of $25.19. The firm has a market cap of $1.49 billion, a P/E ratio of -8.53 and a beta of -2.78.

Institutional Investors Weigh In On Pharvaris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its stake in Pharvaris by 2.2% during the 4th quarter. California State Teachers Retirement System now owns 23,982 shares of the company’s stock worth $666,000 after acquiring an additional 520 shares during the period. JPMorgan Chase & Co. lifted its holdings in Pharvaris by 30.6% during the second quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company’s stock valued at $59,000 after purchasing an additional 783 shares in the last quarter. HighVista Strategies LLC boosted its position in shares of Pharvaris by 4.3% in the second quarter. HighVista Strategies LLC now owns 23,739 shares of the company’s stock worth $418,000 after purchasing an additional 971 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of Pharvaris in the fourth quarter worth approximately $35,000. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Pharvaris by 20.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 7,569 shares of the company’s stock worth $210,000 after purchasing an additional 1,300 shares in the last quarter.

About Pharvaris

Pharvaris is a clinical-stage biopharmaceutical company focused on discovering and developing novel oral therapies for rare bradykinin-driven diseases. The company’s core mission is to address conditions characterized by uncontrolled activation of the plasma kallikrein-kinin system, with a primary emphasis on hereditary angioedema (HAE), a debilitating disorder marked by recurrent swelling episodes.

The company’s lead program, PHA121, is an investigational once-daily oral plasma kallikrein inhibitor designed for prophylactic treatment of HAE and is advancing through clinical trials.