Pharvaris (NASDAQ:PHVS) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Pharvaris (NASDAQ:PHVS) saw strong trading volume on Monday . 189,848 shares were traded during mid-day trading, an increase of 157% from the previous session’s volume of 73,937 shares.The stock last traded at $16.43 and had previously closed at $16.72.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald decreased their price target on shares of Pharvaris from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, May 14th.

Pharvaris Price Performance

The firm has a market cap of $903.57 million, a P/E ratio of -6.17 and a beta of -2.85. The stock has a 50 day moving average of $15.50 and a 200 day moving average of $17.14.

Pharvaris (NASDAQ:PHVS) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.09). On average, research analysts predict that Pharvaris will post -2.71 EPS for the current fiscal year.

Institutional Trading of Pharvaris

Several institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in shares of Pharvaris by 1,125.3% during the fourth quarter. JPMorgan Chase & Co. now owns 3,100 shares of the company’s stock worth $59,000 after purchasing an additional 2,847 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Pharvaris during the fourth quarter worth about $64,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Pharvaris during the fourth quarter worth about $111,000. Point72 Asset Management L.P. purchased a new stake in shares of Pharvaris during the fourth quarter worth about $152,000. Finally, Legal & General Group Plc boosted its holdings in shares of Pharvaris by 11.2% during the fourth quarter. Legal & General Group Plc now owns 9,855 shares of the company’s stock worth $189,000 after purchasing an additional 994 shares during the period.

About Pharvaris

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.