Pharvaris (NASDAQ:PHVS) Sees Large Volume Increase – Still a Buy?

Pharvaris (NASDAQ:PHVS) saw unusually-high trading volume on Monday . Approximately 59,087 shares were traded during mid-day trading, an increase of 80% from the previous session’s volume of 32,825 shares.The stock last traded at $16.53 and had previously closed at $16.50.

Analysts Set New Price Targets

Separately, JMP Securities lifted their price objective on Pharvaris from $46.00 to $55.00 and gave the company a “market outperform” rating in a research note on Friday, January 31st.

Pharvaris Stock Down 0.8 %

The business’s 50 day moving average price is $18.11 and its 200-day moving average price is $19.35. The company has a market cap of $855.57 million, a PE ratio of -5.85 and a beta of -3.08.

Hedge Funds Weigh In On Pharvaris

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new stake in shares of Pharvaris in the third quarter worth $57,000. JPMorgan Chase & Co. boosted its holdings in shares of Pharvaris by 1,125.3% in the 4th quarter. JPMorgan Chase & Co. now owns 3,100 shares of the company’s stock valued at $59,000 after buying an additional 2,847 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Pharvaris during the 4th quarter valued at about $64,000. Barclays PLC acquired a new stake in Pharvaris during the third quarter worth about $106,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Pharvaris during the fourth quarter worth about $111,000.

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.