Pharvaris (NASDAQ:PHVS) Trading Down 4.9% - What's Next?

Pharvaris N.V. (NASDAQ:PHVS - Get Free Report)'s stock price was down 4.9% during trading on Friday . The company traded as low as $17.09 and last traded at $17.03. Approximately 17,015 shares were traded during trading, a decline of 76% from the average daily volume of 71,186 shares. The stock had previously closed at $17.90.

Analyst Upgrades and Downgrades

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

Pharvaris Stock Performance

The stock has a 50-day simple moving average of $16.73 and a 200 day simple moving average of $16.71. The stock has a market capitalization of $883.44 million, a P/E ratio of -5.61 and a beta of -2.86.

Pharvaris (NASDAQ:PHVS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.09). Equities analysts predict that Pharvaris N.V. will post -2.71 earnings per share for the current year.

Hedge Funds Weigh In On Pharvaris

Several institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its holdings in Pharvaris by 1,125.3% in 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. Cubist Systematic Strategies LLC bought a new stake in shares of Pharvaris in the 4th quarter valued at $64,000. KLP Kapitalforvaltning AS acquired a new stake in Pharvaris during the 4th quarter worth $111,000. Point72 Asset Management L.P. bought a new position in Pharvaris during the fourth quarter worth about $152,000. Finally, Legal & General Group Plc lifted 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 acquiring an additional 994 shares in the last quarter.

About Pharvaris

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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