Pharvaris (NASDAQ:PHVS) Shares Gap Up – Time to Buy?

Pharvaris (NASDAQ:PHVS)’s share price gapped up before the market opened on Monday . The stock had previously closed at $15.01, but opened at $15.40. Pharvaris shares last traded at $15.10, with a volume of 6,043 shares changing hands.

Wall Street Analysts Forecast Growth

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

Pharvaris Stock Down 0.7 %

The company has a market cap of $779.64 million, a price-to-earnings ratio of -5.33 and a beta of -3.02. The firm has a 50 day moving average price of $17.40 and a two-hundred day moving average price of $19.20.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PHVS. Patient Square Capital LP acquired a new stake in shares of Pharvaris during the third quarter worth $4,488,000. Soleus Capital Management L.P. grew its holdings in Pharvaris by 36.2% during the 4th quarter. Soleus Capital Management L.P. now owns 814,652 shares of the company’s stock worth $15,617,000 after acquiring an additional 216,483 shares during the period. FMR LLC raised its position in shares of Pharvaris by 3.6% in the 4th quarter. FMR LLC now owns 5,395,370 shares of the company’s stock worth $103,429,000 after acquiring an additional 189,714 shares in the last quarter. Octagon Capital Advisors LP lifted its stake in shares of Pharvaris by 25.4% in the 4th quarter. Octagon Capital Advisors LP now owns 778,000 shares of the company’s stock valued at $14,914,000 after purchasing an additional 157,530 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Pharvaris by 36.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 443,896 shares of the company’s stock worth $8,510,000 after purchasing an additional 118,408 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.