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

Key Points

• Pharvaris experienced a significant trading volume increase of 205%, with approximately 330,873 shares traded on a recent Friday, pushing its stock price to $23.24 from $23.00.
• The company received several analyst upgrades, notably from Bank of America, which raised its price target from $16.00 to $27.00, while maintaining an average rating of "Moderate Buy" with a price target of $37.17.
• Pharvaris reported a quarterly earnings miss, with an EPS of ($0.94), falling short of the consensus estimate of ($0.87) by $0.07.

Pharvaris N.V. (NASDAQ:PHVS - Get Free Report) saw unusually-high trading volume on Friday . Approximately 330,873 shares traded hands during mid-day trading, an increase of 205% from the previous session's volume of 108,456 shares.The stock last traded at $23.24 and had previously closed at $23.00.

Analyst Upgrades and Downgrades

PHVS has been the subject of a number of recent analyst reports. Bank of America upgraded shares of Pharvaris from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $16.00 to $27.00 in a report on Thursday, October 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Pharvaris in a research report on Wednesday, October 8th. Zacks Research raised shares of Pharvaris from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. JMP Securities cut their target price on shares of Pharvaris from $55.00 to $52.00 and set a "market outperform" rating for the company in a research report on Wednesday, August 13th. Finally, HC Wainwright started coverage on shares of Pharvaris in a research report on Wednesday, October 15th. They issued a "buy" rating and a $60.00 target price for the company. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Pharvaris has an average rating of "Moderate Buy" and a consensus price target of $37.17.

Pharvaris Stock Performance

The company has a market cap of $1.20 billion, a P/E ratio of -6.84 and a beta of -2.77. The firm's fifty day moving average is $23.19 and its two-hundred day moving average is $19.61.

Pharvaris (NASDAQ:PHVS - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.07). On average, equities research analysts expect that Pharvaris N.V. will post -2.71 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Pharvaris in the 2nd quarter worth $57,000. JPMorgan Chase & Co. boosted its holdings in shares of Pharvaris by 30.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company's stock valued at $59,000 after purchasing an additional 783 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Pharvaris by 17.2% during the 2nd quarter. Legal & General Group Plc now owns 11,550 shares of the company's stock valued at $203,000 after purchasing an additional 1,695 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Pharvaris by 9.8% during the 2nd quarter. California State Teachers Retirement System now owns 14,048 shares of the company's stock valued at $247,000 after purchasing an additional 1,257 shares during the last quarter. Finally, Palumbo Wealth Management LLC boosted its holdings in shares of Pharvaris by 3.2% during the 2nd quarter. Palumbo Wealth Management LLC now owns 14,549 shares of the company's stock valued at $256,000 after purchasing an additional 447 shares during the last quarter.

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.

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