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

Pharvaris (NASDAQ:PHVS)’s share price gapped up before the market opened on Monday . The stock had previously closed at $15.01, but opened at $15.40. Pharvaris shares last traded at $15.10, with a volume of 6,043 shares traded.

Analysts Set New Price Targets

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

Pharvaris Price Performance

The firm’s 50 day moving average is $17.40 and its 200 day moving average is $19.20. The firm has a market cap of $779.64 million, a P/E ratio of -5.33 and a beta of -3.02.

Institutional Investors Weigh In On Pharvaris

A number of hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new stake in Pharvaris in the third quarter worth about $57,000. JPMorgan Chase & Co. raised its stake in 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 purchasing an additional 2,847 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Pharvaris in the 4th quarter worth about $64,000. Barclays PLC purchased a new stake in shares of Pharvaris during the 3rd quarter valued at about $106,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Pharvaris in the 4th quarter valued at about $111,000.

Pharvaris Company Profile

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.