Pharvaris (NASDAQ:PHVS) Stock Price Down 3.2% – Here’s What Happened

Pharvaris (NASDAQ:PHVS) shares fell 3.2% during trading on Wednesday . The company traded as low as $15.94 and last traded at $15.97. 29,290 shares changed hands during trading, a decline of 58% from the average session volume of 70,377 shares. The stock had previously closed at $16.50.

Wall Street Analysts Forecast Growth

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

Pharvaris Stock Performance

The business’s 50 day moving average price is $16.92 and its 200-day moving average price is $19.06. The company has a market cap of $808.40 million, a price-to-earnings ratio of -5.52 and a beta of -3.02.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Patient Square Capital LP acquired a new position in shares of Pharvaris in the 3rd quarter worth approximately $4,488,000. Soleus Capital Management L.P. raised its stake in Pharvaris by 36.2% during the fourth quarter. Soleus Capital Management L.P. now owns 814,652 shares of the company’s stock worth $15,617,000 after acquiring an additional 216,483 shares in the last quarter. FMR LLC lifted its holdings in shares of Pharvaris by 3.6% during the fourth quarter. FMR LLC now owns 5,395,370 shares of the company’s stock valued at $103,429,000 after acquiring an additional 189,714 shares during the period. Octagon Capital Advisors LP boosted its stake in shares of Pharvaris by 25.4% in the 4th quarter. Octagon Capital Advisors LP now owns 778,000 shares of the company’s stock valued at $14,914,000 after purchasing an additional 157,530 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Pharvaris by 36.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 443,896 shares of the company’s stock worth $8,510,000 after purchasing an additional 118,408 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.