Pharvaris (NASDAQ:PHVS) Sees Large Volume Increase - Time to Buy?

Key Points

• Pharvaris (NASDAQ:PHVS) experienced a 69% increase in trading volume, with approximately 160,256 shares traded, pushing the stock price to $24.39.
• Analysts are optimistic about Pharvaris, with Guggenheim initiating coverage and setting a price target of $32.00, while the stock holds a consensus rating of "Moderate Buy" and average price target of $34.00.
• Despite the positive outlook, Pharvaris reported an earnings miss for the last quarter with a loss of ($0.94) EPS, missing estimates by ($0.07).

Shares of Pharvaris N.V. (NASDAQ:PHVS - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 160,256 shares traded hands during mid-day trading, an increase of 69% from the previous session's volume of 95,061 shares.The stock last traded at $24.39 and had previously closed at $24.26.

Wall Street Analysts Forecast Growth

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

Pharvaris Trading Up 3.4%

The business has a 50-day simple moving average of $22.45 and a 200 day simple moving average of $18.72. The stock has a market cap of $1.31 billion, a P/E ratio of -7.47 and a beta of -2.80.

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

Institutional Trading of Pharvaris

Several institutional investors and hedge funds have recently modified their holdings of PHVS. Palumbo Wealth Management LLC boosted its holdings in shares of Pharvaris by 3.2% in the second quarter. Palumbo Wealth Management LLC now owns 14,549 shares of the company's stock worth $256,000 after acquiring an additional 447 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Pharvaris by 30.6% in the second quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company's stock worth $59,000 after acquiring an additional 783 shares during the period. HighVista Strategies LLC grew its position in 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 buying an additional 971 shares in the last quarter. California State Teachers Retirement System boosted its position 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 acquiring an additional 1,257 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Pharvaris by 17.2% during the second quarter. Legal & General Group Plc now owns 11,550 shares of the company's stock valued at $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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