Pharvaris (NASDAQ:PHVS) Shares Up 5.5% – Here’s Why

Pharvaris (NASDAQ:PHVS) shares shot up 5.5% during mid-day trading on Friday . The stock traded as high as $15.79 and last traded at $16.32. 4,433 shares changed hands during trading, a decline of 94% from the average session volume of 70,040 shares. The stock had previously closed at $15.46.

Wall Street Analyst Weigh In

Separately, JMP Securities increased 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 Stock Performance

The company has a market cap of $805.27 million, a price-to-earnings ratio of -5.50 and a beta of -3.02. The business has a 50-day simple moving average of $16.87 and a 200-day simple moving average of $19.05.

Institutional Investors Weigh In On Pharvaris

A number of hedge funds have recently bought and sold shares of PHVS. Public Employees Retirement System of Ohio acquired a new stake in Pharvaris in the 3rd quarter valued at about $57,000. JPMorgan Chase & Co. raised its position in Pharvaris by 1,125.3% in the 4th quarter. JPMorgan Chase & Co. now owns 3,100 shares of the company’s stock valued at $59,000 after purchasing an additional 2,847 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Pharvaris in the 4th quarter valued at about $64,000. Barclays PLC purchased a new position in shares of Pharvaris in the 3rd quarter valued at about $106,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Pharvaris in the 4th quarter valued at 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.