Pharvaris (NASDAQ:PHVS) Shares Gap Down to $19.08

Pharvaris (NASDAQ:PHVS)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $19.08, but opened at $18.04. Pharvaris shares last traded at $19.05, with a volume of 2,808 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PHVS. Wedbush decreased their price target on Pharvaris from $35.00 to $31.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Oppenheimer upped their price objective on Pharvaris from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.80.

Pharvaris Price Performance

The firm has a market cap of $571.85 million, a price-to-earnings ratio of -6.70 and a beta of -3.10. The company has a fifty day moving average price of $17.80 and a two-hundred day moving average price of $20.69.

Institutional Investors Weigh In On Pharvaris

Several hedge funds have recently modified their holdings of PHVS. Blackstone Inc. purchased a new stake in shares of Pharvaris during the fourth quarter valued at $2,805,000. Vivo Capital LLC purchased a new stake in shares of Pharvaris during the fourth quarter valued at $7,994,000. Sofinnova Investments Inc. lifted its holdings in shares of Pharvaris by 2.9% during the second quarter. Sofinnova Investments Inc. now owns 601,534 shares of the company’s stock valued at $11,309,000 after purchasing an additional 16,862 shares during the last quarter. Commodore Capital LP purchased a new stake in shares of Pharvaris during the fourth quarter valued at $22,440,000. Finally, Deerfield Management Company L.P. Series C lifted its holdings in shares of 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 purchasing an additional 335,687 shares during 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.