Pharvaris (NASDAQ:PHVS) PT Lowered to $31.00 at Wedbush

Pharvaris (NASDAQ:PHVS) had its price objective dropped by equities researchers at Wedbush from $35.00 to $31.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price objective suggests a potential upside of 48.68% from the company’s current price.

Other equities research analysts have also issued research reports about the company. JMP Securities upped their target price on Pharvaris from $49.00 to $50.00 and gave the company a “market outperform” rating in a research report on Thursday, April 11th. Morgan Stanley reissued an “overweight” rating and issued a $34.00 price target on shares of Pharvaris in a report on Monday, April 22nd.

Pharvaris Trading Down 7.8 %

Shares of NASDAQ PHVS opened at $20.85 on Thursday. The business’s 50 day moving average price is $23.03 and its 200 day moving average price is $23.61. Pharvaris has a 52 week low of $7.93 and a 52 week high of $33.00.

Pharvaris (NASDAQ:PHVS) last issued its earnings results on Wednesday, April 10th. The company reported ($0.80) EPS for the quarter. On average, sell-side analysts expect that Pharvaris will post -2.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PHVS. Commodore Capital LP acquired a new position in Pharvaris in the 4th quarter valued at $22,440,000. venBio Partners LLC raised its stake in Pharvaris by 15.4% in the 4th quarter. venBio Partners LLC now owns 4,919,504 shares of the company’s stock valued at $137,992,000 after purchasing an additional 654,832 shares during the last quarter. Vivo Capital LLC acquired a new position in Pharvaris in the 4th quarter valued at $7,994,000. Blackstone Inc. purchased a new stake in Pharvaris in the 4th quarter valued at $2,805,000. Finally, Hudson Bay Capital Management LP purchased a new stake in Pharvaris in the 3rd quarter valued at $812,000.

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 that is in Phase II clinical trial for the treatment of hereditary angioedema (HAE).