Pharvaris (NASDAQ:PHVS) Given Outperform Rating at Wedbush

Wedbush restated their outperform rating on shares of Pharvaris (NASDAQ:PHVS - Free Report) in a research report released on Thursday morning,Benzinga reports. The firm currently has a $27.00 price objective on the stock.

Separately, Cantor Fitzgerald cut their price objective on shares of Pharvaris from $28.00 to $25.00 and set an "overweight" rating on the stock in a report on Wednesday, May 14th.

Pharvaris Trading Up 4.5%

PHVS traded up $0.73 during midday trading on Thursday, reaching $16.78. The company's stock had a trading volume of 82,545 shares, compared to its average volume of 75,335. The firm has a market capitalization of $877.43 million, a price-to-earnings ratio of -5.99 and a beta of -2.86. Pharvaris has a 1 year low of $11.51 and a 1 year high of $25.50. The stock's 50-day moving average is $15.56 and its 200-day moving average is $17.02.

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 analysts' consensus estimates of ($0.80) by ($0.09). As a group, equities research analysts forecast that Pharvaris will post -2.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake 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 worth $59,000 after buying an additional 2,847 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Pharvaris in the fourth quarter worth approximately $64,000. KLP Kapitalforvaltning AS bought a new position in shares of Pharvaris in the fourth quarter worth approximately $111,000. Point72 Asset Management L.P. bought a new position in shares of Pharvaris in the fourth quarter worth approximately $152,000. Finally, Legal & General Group Plc lifted its stake 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 worth $189,000 after buying 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.