Pharvaris (NASDAQ:PHVS) Sees Strong Trading Volume - Here's What Happened

Pharvaris N.V. (NASDAQ:PHVS - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 296,481 shares traded hands during trading, an increase of 310% from the previous session's volume of 72,357 shares.The stock last traded at $24.93 and had previously closed at $25.12.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PHVS shares. Wedbush reiterated an "outperform" rating and set a $27.00 price target on shares of Pharvaris in a research report on Thursday, June 5th. Cantor Fitzgerald reduced their price target on shares of Pharvaris from $28.00 to $25.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 14th. Finally, Guggenheim began coverage on shares of Pharvaris in a research note on Wednesday, June 11th. They issued a "buy" rating and a $32.00 price objective for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Pharvaris has a consensus rating of "Buy" and a consensus price target of $36.20.

Pharvaris Stock Up 3.2%

The company's 50 day moving average price is $17.61 and its 200-day moving average price is $16.79. The stock has a market cap of $1.24 billion, a P/E ratio of -7.88 and a beta of -2.82.

Pharvaris (NASDAQ:PHVS - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.09). Equities research analysts anticipate that Pharvaris N.V. will post -2.71 earnings per share for the current year.

Institutional Investors Weigh In On Pharvaris

Several large investors have recently modified their holdings of PHVS. KLP Kapitalforvaltning AS acquired a new stake in shares of Pharvaris during the fourth quarter worth $111,000. JPMorgan Chase & Co. grew its holdings in Pharvaris by 1,125.3% in the fourth quarter. JPMorgan Chase & Co. now owns 3,100 shares of the company's stock worth $59,000 after purchasing an additional 2,847 shares during the period. Geode Capital Management LLC grew its holdings in Pharvaris by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 38,333 shares of the company's stock worth $735,000 after purchasing an additional 1,356 shares during the period. FMR LLC grew its holdings in Pharvaris by 3.6% in the fourth quarter. FMR LLC now owns 5,395,370 shares of the company's stock worth $103,429,000 after purchasing an additional 189,714 shares during the period. Finally, Legal & General Group Plc grew its holdings in Pharvaris by 11.2% in the fourth quarter. Legal & General Group Plc now owns 9,855 shares of the company's stock worth $189,000 after purchasing an additional 994 shares during the period.

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.