Pharvaris (NASDAQ:PHVS) Shares Up 7.8% – What’s Next?

Pharvaris (NASDAQ:PHVS)’s share price rose 7.8% during mid-day trading on Tuesday . The stock traded as high as $12.71 and last traded at $12.94. Approximately 18,870 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 71,167 shares. The stock had previously closed at $12.00.

Analyst Ratings Changes

Separately, JMP Securities lifted their target price on shares of Pharvaris from $46.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Friday, January 31st.

Pharvaris Stock Performance

The stock has a 50-day moving average price of $15.28 and a two-hundred day moving average price of $18.25. The stock has a market capitalization of $717.42 million, a P/E ratio of -4.90 and a beta of -2.84.

Pharvaris (NASDAQ:PHVS) last issued its quarterly earnings results on Monday, April 7th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.06. Equities analysts anticipate that Pharvaris will post -2.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pharvaris

Several large investors have recently modified their holdings of PHVS. Public Employees Retirement System of Ohio purchased a new stake in Pharvaris in the 3rd quarter worth approximately $57,000. JPMorgan Chase & Co. grew its holdings in Pharvaris by 1,125.3% during the 4th quarter. JPMorgan Chase & Co. now owns 3,100 shares of the company’s stock worth $59,000 after acquiring an additional 2,847 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Pharvaris during the fourth quarter valued at about $64,000. Barclays PLC acquired a new stake in Pharvaris in the third quarter worth about $106,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Pharvaris in the fourth quarter worth about $111,000.

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 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.