Pharvaris (NASDAQ:PHVS) Trading Down 3.5% – Here’s Why

Pharvaris (NASDAQ:PHVS)’s stock price was down 3.5% during trading on Tuesday . The stock traded as low as $18.36 and last traded at $18.36. Approximately 4,298 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 87,379 shares. The stock had previously closed at $19.02.

Analysts Set New Price Targets

Separately, Oppenheimer lifted their target price on Pharvaris from $38.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, September 6th.

Pharvaris Stock Down 0.4 %

The stock has a fifty day moving average of $21.02 and a 200-day moving average of $19.36. The firm has a market capitalization of $603.37 million, a P/E ratio of -6.77 and a beta of -3.17.

Hedge Funds Weigh In On Pharvaris

Several hedge funds have recently made changes to their positions in the business. Novo Holdings A S boosted its holdings in shares of Pharvaris by 47.7% in the 2nd quarter. Novo Holdings A S now owns 1,725,000 shares of the company’s stock valued at $32,430,000 after buying an additional 556,970 shares during the last quarter. Deerfield Management Company L.P. Series C grew its position in shares of Pharvaris by 31.6% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,397,279 shares of the company’s stock valued at $26,269,000 after acquiring an additional 335,687 shares during the period. Patient Square Capital LP acquired a new position in shares of Pharvaris during the 3rd quarter worth about $4,488,000. State Street Corp bought a new stake in shares of Pharvaris in the 3rd quarter valued at about $1,000,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Pharvaris in the 3rd quarter valued at about $906,000.

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.