Pharvaris (NASDAQ:PHVS) Sees Large Growth in Short Interest

Pharvaris (NASDAQ:PHVS) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 487,300 shares, a growth of 24.7% from the February 13th total of 390,900 shares. Based on an average daily trading volume, of 55,500 shares, the short-interest ratio is presently 8.8 days. Approximately 2.8% of the shares of the company are sold short.

Wall Street Analyst Weigh In

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

Pharvaris Stock Down 3.3 %

NASDAQ PHVS traded down $0.54 during trading hours on Tuesday, hitting $15.96. 29,290 shares of the stock were exchanged, compared to its average volume of 70,665. The company has a market cap of $834.55 million, a price-to-earnings ratio of -5.70 and a beta of -3.02. Pharvaris has a 12-month low of $14.14 and a 12-month high of $26.57. The stock has a 50-day moving average of $17.10 and a 200 day moving average of $19.12.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new position in Pharvaris during the third quarter worth about $526,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Pharvaris during the third quarter worth about $906,000. State Street Corp purchased a new position in Pharvaris during the third quarter worth about $1,000,000. Geode Capital Management LLC increased its holdings in Pharvaris by 18.4% in 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 in the last quarter. Finally, Barclays PLC purchased a new position in Pharvaris in the third quarter valued at about $106,000.

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.