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

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PHVS. JMP Securities decreased their price objective on shares of Pharvaris from $55.00 to $52.00 and set a “market outperform” rating for the company in a report on Wednesday, August 13th. Citigroup reiterated a “market outperform” rating on shares of Pharvaris in a research note on Wednesday, November 19th. Wall Street Zen raised Pharvaris from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Morgan Stanley upped their target price on Pharvaris from $37.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, HC Wainwright reissued a “buy” rating and issued a $60.00 price target on shares of Pharvaris in a research report on Wednesday. Nine analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.56.

Pharvaris Stock Down 5.7%

The firm has a 50-day moving average price of $23.76 and a two-hundred day moving average price of $21.51. The company has a market capitalization of $1.45 billion, a P/E ratio of -8.63 and a beta of -2.80.

Pharvaris (NASDAQ:PHVS) last released its earnings results on Wednesday, November 12th. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.08. On average, analysts predict that Pharvaris N.V. will post -2.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Pharvaris

A number of hedge funds have recently modified their holdings of PHVS. Palumbo Wealth Management LLC raised its holdings in shares of Pharvaris by 3.2% in the second quarter. Palumbo Wealth Management LLC now owns 14,549 shares of the company’s stock valued at $256,000 after buying an additional 447 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Pharvaris by 30.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company’s stock valued at $59,000 after buying an additional 783 shares during the last quarter. HighVista Strategies LLC lifted its stake in shares of Pharvaris by 4.3% during the second quarter. HighVista Strategies LLC now owns 23,739 shares of the company’s stock valued at $418,000 after acquiring an additional 971 shares during the period. California State Teachers Retirement System increased its position in Pharvaris by 9.8% in the second quarter. California State Teachers Retirement System now owns 14,048 shares of the company’s stock worth $247,000 after purchasing an additional 1,257 shares during the period. Finally, Legal & General Group Plc raised its holdings in Pharvaris by 17.2% during the 2nd quarter. Legal & General Group Plc now owns 11,550 shares of the company’s stock worth $203,000 after purchasing an additional 1,695 shares during the last quarter.

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.