Pharvaris (NASDAQ:PHVS) Sees Strong Trading Volume After Analyst Upgrade

Shares of Pharvaris N.V. (NASDAQ:PHVS) saw unusually-strong trading volume on Monday after Morgan Stanley raised their price target on the stock from $34.00 to $37.00. Morgan Stanley currently has an overweight rating on the stock. Approximately 406,438 shares changed hands during mid-day trading, an increase of 247% from the previous session’s volume of 117,104 shares.The stock last traded at $24.9150 and had previously closed at $23.55.

Other equities research analysts have also issued reports about the stock. Zacks Research raised shares of Pharvaris from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Bank of America upgraded shares of Pharvaris from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $16.00 to $27.00 in a report on Thursday, October 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pharvaris in a report on Wednesday, October 8th. HC Wainwright reissued a “buy” rating and issued a $60.00 price objective on shares of Pharvaris in a research note on Thursday, November 13th. Finally, Wedbush upped their target price on Pharvaris from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, November 13th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.57.

Institutional Trading of Pharvaris

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. General Atlantic L.P. lifted its stake in shares of Pharvaris by 6.6% in the third quarter. General Atlantic L.P. now owns 8,031,252 shares of the company’s stock valued at $200,380,000 after buying an additional 500,000 shares in the last quarter. Foresite Capital Management IV LLC raised its holdings in shares of Pharvaris by 8.3% in the 3rd quarter. Foresite Capital Management IV LLC now owns 4,778,581 shares of the company’s stock worth $119,226,000 after acquiring an additional 368,000 shares during the last quarter. venBio Partners LLC lifted its position in Pharvaris by 8.2% in the 3rd quarter. venBio Partners LLC now owns 4,639,304 shares of the company’s stock valued at $115,751,000 after acquiring an additional 350,000 shares in the last quarter. Deerfield Management Company L.P. boosted its stake in Pharvaris by 21.1% during the 3rd quarter. Deerfield Management Company L.P. now owns 2,442,464 shares of the company’s stock valued at $60,939,000 after purchasing an additional 425,000 shares during the last quarter. Finally, Commodore Capital LP increased its holdings in Pharvaris by 26.5% during the 3rd quarter. Commodore Capital LP now owns 2,418,476 shares of the company’s stock worth $60,341,000 after purchasing an additional 507,043 shares in the last quarter.

Pharvaris Stock Up 5.8%

The stock has a market capitalization of $1.30 billion, a PE ratio of -7.76 and a beta of -2.78. The firm has a 50 day moving average price of $23.26 and a 200 day moving average price of $20.74.

Pharvaris (NASDAQ:PHVS) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.08. On average, equities analysts forecast that Pharvaris N.V. will post -2.71 earnings per share for the current fiscal year.

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.