Pharvaris (NASDAQ:PHVS) Shares Up 5.9% - Should You Buy?

Key Points

• Pharvaris N.V. stock price surged by 5.9%, closing at $24.48, but trading volume was significantly lower, at around 21,401 shares compared to the average of 80,075 shares.
• Analysts have largely positive ratings on Pharvaris, with an average target price of $35.60, although some have adjusted their targets downwards.
• The company, which focuses on therapies for rare diseases, reported a quarterly loss of ($0.94) EPS, missing analysts' expectations for the period.

Pharvaris N.V. (NASDAQ:PHVS - Get Free Report) shot up 5.9% during mid-day trading on Monday . The stock traded as high as $23.89 and last traded at $24.48. 21,401 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 80,075 shares. The stock had previously closed at $23.12.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PHVS shares. 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. Wedbush reaffirmed an "outperform" rating and set a $27.00 price objective on shares of Pharvaris in a report on Thursday, June 5th. Cantor Fitzgerald cut 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. Zacks Research raised shares of Pharvaris from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Finally, JMP Securities cut their target price on Pharvaris from $55.00 to $52.00 and set a "market outperform" rating for the company in a research note on Wednesday, August 13th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $35.60.

Pharvaris Price Performance

The company's 50-day moving average is $20.82 and its two-hundred day moving average is $17.58.

Pharvaris (NASDAQ:PHVS - Get Free Report) last posted 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). On average, analysts anticipate that Pharvaris N.V. will post -2.71 EPS for the current year.

Institutional Trading of Pharvaris

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PHVS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Pharvaris by 30.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,734 shares of the company's stock valued at $1,222,000 after purchasing an additional 14,838 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Pharvaris by 13.0% during the 4th quarter. Deutsche Bank AG now owns 18,168 shares of the company's stock valued at $348,000 after purchasing an additional 2,087 shares during the period. Bank of America Corp DE grew its stake in shares of Pharvaris by 205,286.7% during the 4th quarter. Bank of America Corp DE now owns 30,808 shares of the company's stock valued at $591,000 after purchasing an additional 30,793 shares during the period. JPMorgan Chase & Co. increased its holdings in Pharvaris by 1,125.3% in the 4th quarter. JPMorgan Chase & Co. now owns 3,100 shares of the company's stock worth $59,000 after acquiring an additional 2,847 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Pharvaris in the 4th quarter worth approximately $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.