Pharvaris (NASDAQ:PHVS) Trading Down 5.9% - Time to Sell?

Pharvaris N.V. (NASDAQ:PHVS - Get Free Report)'s share price traded down 5.9% during trading on Tuesday . The company traded as low as $22.13 and last traded at $22.39. 39,111 shares traded hands during trading, a decline of 46% from the average session volume of 72,757 shares. The stock had previously closed at $23.80.

Analyst Upgrades and Downgrades

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

Pharvaris Stock Down 2.9%

The firm has a fifty day simple moving average of $17.74 and a 200-day simple moving average of $16.82. The company has a market capitalization of $1.20 billion, a P/E ratio of -7.67 and a beta of -2.82.

Pharvaris (NASDAQ:PHVS - Get Free Report) last announced 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). On average, sell-side analysts predict that Pharvaris N.V. will post -2.71 earnings per share for the current fiscal year.

Institutional Trading of Pharvaris

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Pharvaris by 1,125.3% in the fourth quarter. JPMorgan Chase & Co. now owns 3,100 shares of the company's stock valued at $59,000 after purchasing an additional 2,847 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Pharvaris in the fourth quarter valued at about $64,000. KLP Kapitalforvaltning AS bought a new stake in shares of Pharvaris in the fourth quarter valued at about $111,000. Point72 Asset Management L.P. bought a new stake in shares of Pharvaris in the fourth quarter valued at about $152,000. Finally, Legal & General Group Plc lifted its holdings in shares of Pharvaris by 11.2% in the fourth quarter. Legal & General Group Plc now owns 9,855 shares of the company's stock valued at $189,000 after purchasing an additional 994 shares in 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.