Pharvaris (NASDAQ:PHVS) Trading Down 7.9% – What’s Next?

Pharvaris (NASDAQ:PHVS) shares dropped 7.9% on Thursday . The stock traded as low as $22.99 and last traded at $23.03. Approximately 29,500 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 89,179 shares. The stock had previously closed at $25.01.

Wall Street Analyst Weigh In

Separately, Oppenheimer increased their target price on shares of Pharvaris from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.60.

Pharvaris Price Performance

The company has a market cap of $710.67 million, a price-to-earnings ratio of -8.87 and a beta of -3.15. The business has a 50 day simple moving average of $20.35 and a 200 day simple moving average of $19.41.

Pharvaris (NASDAQ:PHVS) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.02). As a group, sell-side analysts anticipate that Pharvaris will post -2.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pharvaris

A number of institutional investors and hedge funds have recently bought and sold shares of PHVS. Sofinnova Investments Inc. boosted its stake in Pharvaris by 2.9% in the second quarter. Sofinnova Investments Inc. now owns 601,534 shares of the company’s stock worth $11,309,000 after purchasing an additional 16,862 shares in the last quarter. Deerfield Management Company L.P. Series C boosted its stake in Pharvaris by 31.6% in the second quarter. Deerfield Management Company L.P. Series C now owns 1,397,279 shares of the company’s stock worth $26,269,000 after purchasing an additional 335,687 shares in the last quarter. Finally, Novo Holdings A S boosted its stake in Pharvaris by 47.7% in the second quarter. Novo Holdings A S now owns 1,725,000 shares of the company’s stock worth $32,430,000 after purchasing an additional 556,970 shares in 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.