Pharvaris (NASDAQ:PHVS) Shares Gap Up - Still a Buy?

Pharvaris (NASDAQ:PHVS - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $18.12, but opened at $19.39. Pharvaris shares last traded at $17.96, with a volume of 8,845 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Guggenheim assumed coverage on shares of Pharvaris in a research report on Wednesday. They set a "buy" rating and a $32.00 price target on the stock. Cantor Fitzgerald dropped 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, Wedbush reissued an "outperform" rating and set a $27.00 price target on shares of Pharvaris in a research report on Thursday, June 5th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $36.20.

Pharvaris Price Performance

The stock has a market capitalization of $873.24 million, a PE ratio of -5.96 and a beta of -2.86. The stock's 50 day simple moving average is $15.93 and its two-hundred day simple moving average is $16.87.

Pharvaris (NASDAQ:PHVS - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($0.89) earnings per share for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.09). As a group, equities research analysts predict that Pharvaris will post -2.71 earnings per share for the current fiscal year.

Institutional Trading of Pharvaris

A number of institutional investors have recently modified their holdings of PHVS. Palumbo Wealth Management LLC purchased a new stake in shares of Pharvaris during the 4th quarter valued at approximately $196,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Pharvaris during the 4th quarter valued at approximately $111,000. JPMorgan Chase & Co. lifted its stake in shares of Pharvaris by 1,125.3% during the 4th quarter. JPMorgan Chase & Co. now owns 3,100 shares of the company's stock valued at $59,000 after buying an additional 2,847 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Pharvaris by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 38,333 shares of the company's stock valued at $735,000 after buying an additional 1,356 shares in the last quarter. Finally, FMR LLC lifted its stake in shares of Pharvaris by 3.6% during the 4th quarter. FMR LLC now owns 5,395,370 shares of the company's stock valued at $103,429,000 after buying an additional 189,714 shares in 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.