Pharvaris (NASDAQ:PHVS) Shares Down 5.1%

Pharvaris (NASDAQ:PHVS)’s share price traded down 5.1% on Wednesday . The company traded as low as $17.35 and last traded at $17.35. 29,719 shares were traded during trading, a decline of 63% from the average session volume of 81,346 shares. The stock had previously closed at $18.28.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Morgan Stanley reiterated an “overweight” rating and set a $34.00 price target on shares of Pharvaris in a research report on Monday, April 22nd. Oppenheimer increased their price target on Pharvaris from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 3rd. Finally, Wedbush lowered their target price on Pharvaris from $35.00 to $31.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Pharvaris presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.80.

Pharvaris Stock Performance

The business has a 50 day simple moving average of $17.64 and a 200-day simple moving average of $21.54.

Hedge Funds Weigh In On Pharvaris

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. venBio Partners LLC boosted its stake in Pharvaris by 15.4% during 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 in the last quarter. Commodore Capital LP bought a new position in Pharvaris during the 4th quarter valued at $22,440,000. Sofinnova Investments Inc. boosted its stake in Pharvaris by 2.9% during the 2nd quarter. Sofinnova Investments Inc. now owns 601,534 shares of the company’s stock valued at $11,309,000 after purchasing an additional 16,862 shares in the last quarter. Vivo Capital LLC bought a new stake in shares of Pharvaris during the 4th quarter worth $7,994,000. Finally, Blackstone Inc. bought a new stake in shares of Pharvaris during the 4th quarter worth $2,805,000.

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.