Pharvaris (NASDAQ:PHVS) Shares Up 6.2% - Here's What Happened

Key Points

• Pharvaris N.V. shares rose 6.2% to close at $23.54 on a significant trading volume increase, indicating growing investor interest.
• Wall Street analysts have a consensus "Buy" rating for Pharvaris, with an average price target of $35.60, though some firms have lowered their individual targets.
• The company reported a quarterly loss of ($0.94) earnings per share, which was below expected estimates, projecting a challenging fiscal year ahead.

Shares of Pharvaris N.V. (NASDAQ:PHVS - Get Free Report) shot up 6.2% on Tuesday . The company traded as high as $23.00 and last traded at $23.54. 91,123 shares traded hands during mid-day trading, an increase of 17% from the average session volume of 78,145 shares. The stock had previously closed at $22.16.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PHVS. Cantor Fitzgerald cut their price target on Pharvaris from $28.00 to $25.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 14th. Wedbush reissued an "outperform" rating and issued a $27.00 price target on shares of Pharvaris in a research note on Thursday, June 5th. JMP Securities cut their price target on Pharvaris from $55.00 to $52.00 and set a "market outperform" rating on the stock in a research note on Wednesday, August 13th. Finally, Guggenheim began coverage on Pharvaris in a research note on Wednesday, June 11th. They issued a "buy" rating and a $32.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Pharvaris presently has a consensus rating of "Buy" and an average price target of $35.60.

Pharvaris Trading Up 5.0%

The company has a 50 day simple moving average of $19.80 and a 200-day simple moving average of $17.26. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -6.92 and a beta of -2.81.

Pharvaris (NASDAQ:PHVS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.07). Equities analysts forecast that Pharvaris N.V. will post -2.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pharvaris

A number of hedge funds and other institutional investors have recently bought and sold shares of PHVS. JPMorgan Chase & Co. grew its holdings in Pharvaris by 1,125.3% during 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% during 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. Legal & General Group Plc grew its holdings in Pharvaris by 11.2% during 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. Rock Springs Capital Management LP grew its holdings in Pharvaris by 2.4% during 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 grew its holdings in Pharvaris by 36.4% during the fourth 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 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.

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