Pharvaris (NASDAQ:PHVS) Shares Gap Up - Should You Buy?

Pharvaris N.V. (NASDAQ:PHVS - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $17.82, but opened at $18.59. Pharvaris shares last traded at $17.89, with a volume of 16,093 shares.

Wall Street Analyst Weigh In

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

Pharvaris Stock Performance

The company has a market cap of $980.96 million, a P/E ratio of -6.23 and a beta of -2.82. The firm has a 50 day moving average price of $16.96 and a 200-day moving average price of $16.67.

Pharvaris (NASDAQ:PHVS - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.09). On average, sell-side analysts forecast that Pharvaris N.V. will post -2.71 EPS for the current fiscal year.

Institutional Trading of Pharvaris

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC raised its holdings in Pharvaris by 3.6% in the 4th quarter. FMR LLC now owns 5,395,370 shares of the company's stock worth $103,429,000 after acquiring an additional 189,714 shares during the period. Soleus Capital Management L.P. grew its position in shares of Pharvaris by 36.2% in the fourth quarter. Soleus Capital Management L.P. now owns 814,652 shares of the company's stock valued at $15,617,000 after purchasing an additional 216,483 shares during the last quarter. Octagon Capital Advisors LP increased its stake in shares of Pharvaris by 25.4% in the fourth quarter. Octagon Capital Advisors LP now owns 778,000 shares of the company's stock worth $14,914,000 after purchasing an additional 157,530 shares during the period. Rock Springs Capital Management LP increased its stake in shares of Pharvaris by 2.4% in the fourth quarter. Rock Springs Capital Management LP now owns 775,131 shares of the company's stock worth $14,859,000 after purchasing an additional 18,200 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Pharvaris by 36.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 443,896 shares of the company's stock worth $8,510,000 after purchasing an additional 118,408 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.