Pharvaris (NASDAQ:PHVS) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Pharvaris (NASDAQ:PHVS) saw an uptick in trading volume on Wednesday . 112,320 shares changed hands during mid-day trading, an increase of 27% from the previous session’s volume of 88,353 shares.The stock last traded at $18.08 and had previously closed at $17.90.

Analyst Upgrades and Downgrades

Separately, Oppenheimer upped their price target on shares of Pharvaris from $38.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.60.

Pharvaris Stock Down 0.4 %

The stock has a fifty day moving average of $18.49 and a 200 day moving average of $19.34.

Pharvaris (NASDAQ:PHVS) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.02). On average, analysts anticipate that Pharvaris will post -2.58 earnings per share for the current year.

Hedge Funds Weigh In On Pharvaris

Several large investors have recently added to or reduced their stakes in the company. Blackstone Inc. bought a new stake in shares of Pharvaris during the 4th quarter valued at $2,805,000. Sofinnova Investments Inc. increased its stake in Pharvaris by 2.9% in the 2nd quarter. Sofinnova Investments Inc. now owns 601,534 shares of the company’s stock worth $11,309,000 after buying an additional 16,862 shares in the last quarter. Deerfield Management Company L.P. Series C raised its holdings in Pharvaris by 31.6% during the second quarter. Deerfield Management Company L.P. Series C now owns 1,397,279 shares of the company’s stock valued at $26,269,000 after acquiring an additional 335,687 shares during the period. Finally, Novo Holdings A S lifted its position in shares of Pharvaris by 47.7% in the second quarter. Novo Holdings A S now owns 1,725,000 shares of the company’s stock valued at $32,430,000 after acquiring an additional 556,970 shares in 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.