Pharvaris (NASDAQ:PHVS) Stock Price Down 5.7% – What’s Next?

Pharvaris N.V. (NASDAQ:PHVS) shares traded down 5.7% during trading on Monday . The company traded as low as $25.18 and last traded at $24.9650. 33,270 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 149,388 shares. The stock had previously closed at $26.48.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pharvaris in a research note on Wednesday, October 8th. Oppenheimer boosted their target price on Pharvaris from $44.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Wedbush upped their target price on shares of Pharvaris from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, November 13th. Citigroup restated a “market outperform” rating on shares of Pharvaris in a research report on Wednesday, November 19th. Finally, Leerink Partners set a $38.00 target price on Pharvaris in a research report on Wednesday, December 3rd. Nine 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.56.

Pharvaris Trading Down 10.0%

The business has a 50-day moving average price of $24.81 and a 200 day moving average price of $22.88. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -7.49 and a beta of -2.79.

Pharvaris (NASDAQ:PHVS) last posted its earnings results 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. On average, analysts anticipate that Pharvaris N.V. will post -2.71 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PHVS. JPMorgan Chase & Co. grew its holdings in Pharvaris by 710.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 27,085 shares of the company’s stock valued at $676,000 after buying an additional 23,743 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in Pharvaris during the 3rd quarter worth $1,943,000. Woodline Partners LP acquired a new stake in Pharvaris during the 3rd quarter valued at approximately $2,495,000. venBio Partners LLC raised its position in shares of Pharvaris by 8.2% in the 3rd quarter. venBio Partners LLC now owns 4,639,304 shares of the company’s stock worth $115,751,000 after acquiring an additional 350,000 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in shares of Pharvaris during the 3rd quarter worth approximately $3,119,000.

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.