Pharvaris (NASDAQ:PHVS) Sees Large Volume Increase - Here's Why

Key Points

• Pharvaris N.V. experienced a significant trading volume increase of 217%, with approximately 288,884 shares traded on Wednesday, raising the stock price to $25.35.
• Analyst ratings for Pharvaris include a consensus of "Moderate Buy" with an average price target of $34.00 from multiple research firms, despite JMP Securities lowering their price target from $55.00 to $52.00.
• The company reported a quarterly loss of ($0.94) earnings per share, missing estimates and is projected to have a fiscal year EPS of ($2.71).

Shares of Pharvaris N.V. (NASDAQ:PHVS - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 288,884 shares were traded during trading, an increase of 217% from the previous session's volume of 91,063 shares.The stock last traded at $25.35 and had previously closed at $24.90.

Analyst Upgrades and Downgrades

PHVS has been the topic of several research analyst reports. JMP Securities dropped their price objective on Pharvaris from $55.00 to $52.00 and set a "market outperform" rating on the stock in a research note on Wednesday, August 13th. Zacks Research upgraded shares of Pharvaris from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Guggenheim assumed coverage on shares of Pharvaris in a research note on Wednesday, June 11th. They issued a "buy" rating and a $32.00 target price on the stock. Finally, Wedbush reaffirmed an "outperform" rating and set a $27.00 target price on shares of Pharvaris in a research note on Thursday, June 5th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $34.00.

Pharvaris Price Performance

The firm has a market capitalization of $1.30 billion, a P/E ratio of -7.42 and a beta of -2.80. The stock has a fifty day moving average of $22.38 and a 200-day moving average of $18.48.

Pharvaris (NASDAQ:PHVS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.87) by ($0.07). Sell-side analysts predict that Pharvaris N.V. will post -2.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PHVS. Palumbo Wealth Management LLC boosted its position in Pharvaris by 3.2% in the 2nd quarter. Palumbo Wealth Management LLC now owns 14,549 shares of the company's stock valued at $256,000 after buying an additional 447 shares during the period. JPMorgan Chase & Co. raised its position in shares of Pharvaris by 30.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company's stock worth $59,000 after buying an additional 783 shares in the last quarter. HighVista Strategies LLC boosted its holdings in shares of Pharvaris by 4.3% during the second quarter. HighVista Strategies LLC now owns 23,739 shares of the company's stock worth $418,000 after purchasing an additional 971 shares during the period. California State Teachers Retirement System lifted its stake in shares of Pharvaris by 9.8% in the second quarter. California State Teachers Retirement System now owns 14,048 shares of the company's stock worth $247,000 after buying an additional 1,257 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Pharvaris by 17.2% during the 2nd quarter. Legal & General Group Plc now owns 11,550 shares of the company's stock worth $203,000 after acquiring an additional 1,695 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.

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