Pharvaris (NASDAQ:PHVS) Shares Down 4.8% – Here’s Why

Pharvaris N.V. (NASDAQ:PHVS) shares fell 4.8% during trading on Tuesday . The company traded as low as $24.52 and last traded at $24.7450. 166,538 shares were traded during trading, an increase of 28% from the average session volume of 129,804 shares. The stock had previously closed at $26.00.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $60.00 target price on shares of Pharvaris in a research report on Thursday, November 13th. Morgan Stanley raised their price objective on Pharvaris from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Wedbush lifted their price objective on Pharvaris from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, November 13th. Citigroup restated a “market outperform” rating on shares of Pharvaris in a research report on Wednesday, November 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Pharvaris in a research note on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Pharvaris has an average rating of “Moderate Buy” and an average target price of $37.57.

Pharvaris Price Performance

The business’s 50 day simple moving average is $23.62 and its 200 day simple moving average is $21.36. The stock has a market cap of $1.26 billion, a P/E ratio of -7.47 and a beta of -2.80.

Pharvaris (NASDAQ:PHVS) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.08. Research analysts predict that Pharvaris N.V. will post -2.71 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PHVS. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Pharvaris in the 2nd quarter worth about $57,000. JPMorgan Chase & Co. lifted its holdings in Pharvaris by 30.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company’s stock valued at $59,000 after purchasing an additional 783 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in Pharvaris in the third quarter valued at about $75,000. Public Employees Retirement System of Ohio grew its stake in Pharvaris by 39.3% during the third quarter. Public Employees Retirement System of Ohio now owns 6,269 shares of the company’s stock worth $156,000 after buying an additional 1,769 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Pharvaris by 17.2% during the second quarter. Legal & General Group Plc now owns 11,550 shares of the company’s stock worth $203,000 after buying an additional 1,695 shares in the last quarter.

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.