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

Pharvaris N.V. (NASDAQ:PHVS - Get Free Report)'s stock price 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 traded.

Wall Street Analysts Forecast Growth

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

Pharvaris Stock Up 5.3%

The stock has a 50-day simple moving average of $17.06 and a two-hundred day simple moving average of $16.65. The firm has a market cap of $980.96 million, a PE ratio of -6.23 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 for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.09). Research analysts expect that Pharvaris N.V. will post -2.71 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc grew its stake in shares of Pharvaris by 11.2% during the fourth quarter. Legal & General Group Plc now owns 9,855 shares of the company's stock valued at $189,000 after buying an additional 994 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Pharvaris by 3.7% during the fourth 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 during the last quarter. Deutsche Bank AG grew its stake in shares of Pharvaris by 13.0% during the fourth quarter. Deutsche Bank AG now owns 18,168 shares of the company's stock valued at $348,000 after buying an additional 2,087 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Pharvaris by 1,125.3% during the fourth 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 during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Pharvaris during the fourth quarter valued at about $64,000.

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.