Pharvaris (NASDAQ:PHVS) Shares Down 3.5% – What’s Next?

Pharvaris (NASDAQ:PHVS) traded down 3.5% during mid-day trading on Tuesday . The stock traded as low as $18.36 and last traded at $18.36. 4,298 shares traded hands during trading, a decline of 95% from the average session volume of 87,379 shares. The stock had previously closed at $19.02.

Analysts Set New Price Targets

Separately, Oppenheimer raised their price objective on shares of Pharvaris from $38.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, September 6th.

Pharvaris Stock Performance

The company has a market capitalization of $610.37 million, a P/E ratio of -6.85 and a beta of -3.17. The stock has a 50 day moving average price of $20.88 and a 200 day moving average price of $19.37.

Institutional Investors Weigh In On Pharvaris

Hedge funds and other institutional investors 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 during the third quarter valued at about $57,000. Barclays PLC bought a new stake in shares of Pharvaris during the third quarter valued at about $106,000. Geode Capital Management LLC increased its position in shares of Pharvaris by 18.4% during the third quarter. Geode Capital Management LLC now owns 36,977 shares of the company’s stock valued at $685,000 after buying an additional 5,753 shares during the period. HighVista Strategies LLC increased its position in shares of Pharvaris by 35.9% during the third quarter. HighVista Strategies LLC now owns 22,768 shares of the company’s stock valued at $422,000 after buying an additional 6,018 shares during the period. Finally, Sofinnova Investments Inc. increased its position 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 buying an additional 16,862 shares during the period.

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.