Short Interest in Pharvaris (NASDAQ:PHVS) Grows By 254.4%

Pharvaris (NASDAQ:PHVS) was the recipient of a large growth in short interest in September. As of September 15th, there was short interest totalling 642,800 shares, a growth of 254.4% from the August 31st total of 181,400 shares. Based on an average daily trading volume, of 84,500 shares, the short-interest ratio is presently 7.6 days. Currently, 3.6% of the shares of the stock are sold short.

Pharvaris Stock Performance

Shares of PHVS traded down $0.21 during midday trading on Wednesday, hitting $18.78. The stock had a trading volume of 97,653 shares, compared to its average volume of 89,392. Pharvaris has a fifty-two week low of $15.00 and a fifty-two week high of $33.00. The business has a 50-day simple moving average of $18.35 and a two-hundred day simple moving average of $19.78.

Pharvaris (NASDAQ:PHVS) last announced its earnings results on Wednesday, August 14th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.02). On average, equities research analysts expect that Pharvaris will post -2.58 earnings per share for the current year.

Institutional Trading of Pharvaris

A number of hedge funds have recently made changes to their positions in the stock. Sofinnova Investments Inc. lifted its position in shares of Pharvaris by 2.9% in the second quarter. Sofinnova Investments Inc. now owns 601,534 shares of the company’s stock worth $11,309,000 after purchasing an additional 16,862 shares in the last quarter. Blackstone Inc. purchased a new stake in shares of Pharvaris in the fourth quarter worth approximately $2,805,000. Deerfield Management Company L.P. Series C lifted its position in shares of Pharvaris by 31.6% in the second quarter. Deerfield Management Company L.P. Series C now owns 1,397,279 shares of the company’s stock worth $26,269,000 after purchasing an additional 335,687 shares in the last quarter. Novo Holdings A S lifted its position in shares of Pharvaris by 47.7% in the second quarter. Novo Holdings A S now owns 1,725,000 shares of the company’s stock worth $32,430,000 after purchasing an additional 556,970 shares in the last quarter. Finally, venBio Partners LLC lifted its position in shares of Pharvaris by 15.4% in the fourth quarter. venBio Partners LLC now owns 4,919,504 shares of the company’s stock worth $137,992,000 after purchasing an additional 654,832 shares in the last quarter.

Analyst Ratings Changes

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 report on Friday, September 6th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.60.

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.