Pharvaris (NASDAQ:PHVS) Trading Up 6% – Still a Buy?

Pharvaris (NASDAQ:PHVS) shares rose 6% during mid-day trading on Thursday . The stock traded as high as $15.80 and last traded at $16.41. Approximately 3,241 shares were traded during trading, a decline of 95% from the average daily volume of 69,529 shares. The stock had previously closed at $15.48.

Analyst Upgrades and Downgrades

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

Pharvaris Stock Performance

The company has a 50-day moving average of $16.81 and a 200 day moving average of $18.99. The firm has a market cap of $827.49 million, a P/E ratio of -5.65 and a beta of -3.02.

Hedge Funds Weigh In On Pharvaris

A number of hedge funds and other institutional investors have recently made changes to their positions in PHVS. Patient Square Capital LP acquired a new position in Pharvaris during the third quarter worth $4,488,000. Soleus Capital Management L.P. raised its stake in Pharvaris by 36.2% in the fourth quarter. Soleus Capital Management L.P. now owns 814,652 shares of the company’s stock valued at $15,617,000 after buying an additional 216,483 shares during the period. FMR LLC lifted its position in shares of Pharvaris by 3.6% in the fourth quarter. FMR LLC now owns 5,395,370 shares of the company’s stock valued at $103,429,000 after buying an additional 189,714 shares during the last quarter. Octagon Capital Advisors LP boosted its stake in shares of Pharvaris by 25.4% during the 4th quarter. Octagon Capital Advisors LP now owns 778,000 shares of the company’s stock worth $14,914,000 after acquiring an additional 157,530 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Pharvaris by 36.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 443,896 shares of the company’s stock worth $8,510,000 after acquiring an additional 118,408 shares during the last quarter.

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.