Pharvaris (NASDAQ:PHVS) Trading Down 6.9% – Here’s What Happened

Pharvaris N.V. (NASDAQ:PHVS)’s stock price traded down 6.9% during mid-day trading on Tuesday . The company traded as low as $25.34 and last traded at $25.21. Approximately 163,964 shares were traded during trading, an increase of 4% from the average session volume of 157,212 shares. The stock had previously closed at $27.07.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PHVS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pharvaris in a research note on Wednesday, October 8th. Bank of America lifted their target price on shares of Pharvaris from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, December 4th. HC Wainwright reiterated a “buy” rating and issued a $60.00 target price on shares of Pharvaris in a research report on Wednesday, December 3rd. Wedbush boosted their price target 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. Finally, Wall Street Zen downgraded shares of Pharvaris from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Nine investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Pharvaris currently has an average rating of “Moderate Buy” and an average target price of $40.56.

Pharvaris Stock Up 0.5%

The company has a market cap of $1.36 billion, a PE ratio of -8.09 and a beta of -2.80. The stock has a 50-day simple moving average of $24.29 and a 200 day simple moving average of $22.38.

Pharvaris (NASDAQ:PHVS) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.70) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.08. As a group, research analysts anticipate that Pharvaris N.V. will post -2.71 earnings per share for the current fiscal year.

Institutional Trading of Pharvaris

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. General Atlantic L.P. increased its stake in shares of Pharvaris by 6.6% during the third quarter. General Atlantic L.P. now owns 8,031,252 shares of the company’s stock worth $200,380,000 after acquiring an additional 500,000 shares during the period. Foresite Capital Management IV LLC grew its holdings in Pharvaris by 8.3% during the third quarter. Foresite Capital Management IV LLC now owns 4,778,581 shares of the company’s stock worth $119,226,000 after acquiring an additional 368,000 shares during the period. venBio Partners LLC grew its holdings in Pharvaris by 8.2% during the third 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 during the period. Deerfield Management Company L.P. lifted its holdings in Pharvaris by 21.1% in the third quarter. Deerfield Management Company L.P. now owns 2,442,464 shares of the company’s stock valued at $60,939,000 after acquiring an additional 425,000 shares during the period. Finally, Commodore Capital LP boosted its position in shares of Pharvaris by 26.5% during the 3rd quarter. Commodore Capital LP now owns 2,418,476 shares of the company’s stock worth $60,341,000 after purchasing an additional 507,043 shares in the last quarter.

Pharvaris Company Profile

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.