Pharvaris (NASDAQ:PHVS) Stock Price Down 8.4% – Here’s What Happened

Shares of Pharvaris (NASDAQ:PHVS) fell 8.4% during mid-day trading on Monday . The stock traded as low as $13.13 and last traded at $13.08. 4,997 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 71,812 shares. The stock had previously closed at $14.28.

Analysts Set New Price Targets

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

Pharvaris Price Performance

The stock has a market capitalization of $690.75 million, a PE ratio of -4.72 and a beta of -2.84. The stock’s fifty day moving average is $16.21 and its 200-day moving average is $18.65.

Pharvaris (NASDAQ:PHVS) last issued its quarterly earnings data on Wednesday, April 9th. The company reported ($0.68) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.06. On average, analysts forecast that Pharvaris will post -2.71 EPS for the current year.

Institutional Investors Weigh In On Pharvaris

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its position 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 valued at $189,000 after purchasing an additional 994 shares during the period. Geode Capital Management LLC lifted its stake in Pharvaris by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 38,333 shares of the company’s stock valued at $735,000 after buying an additional 1,356 shares in the last quarter. Deutsche Bank AG increased its stake in Pharvaris by 13.0% during the 4th quarter. Deutsche Bank AG now owns 18,168 shares of the company’s stock worth $348,000 after buying an additional 2,087 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Pharvaris by 1,125.3% during the fourth quarter. JPMorgan Chase & Co. now owns 3,100 shares of the company’s stock valued at $59,000 after acquiring an additional 2,847 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Pharvaris in the third quarter valued at approximately $57,000.

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.