Pharvaris (NASDAQ:PHVS) Stock Price Down 7.4% – Here’s What Happened

Pharvaris (NASDAQ:PHVS) traded down 7.4% on Wednesday . The company traded as low as $19.00 and last traded at $19.00. 26,143 shares changed hands during trading, a decline of 70% from the average session volume of 86,941 shares. The stock had previously closed at $20.51.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer boosted their price objective on Pharvaris from $38.00 to $42.00 and gave the company 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $33.60.

Pharvaris Stock Down 2.2 %

The firm has a 50 day moving average price of $20.77 and a 200-day moving average price of $19.27. The stock has a market capitalization of $638.39 million, a PE ratio of -6.79 and a beta of -3.15.

Institutional Investors Weigh In On Pharvaris

Hedge funds have recently modified their holdings of the business. Novo Holdings A S grew its position in shares of Pharvaris by 47.7% during the second quarter. Novo Holdings A S now owns 1,725,000 shares of the company’s stock worth $32,430,000 after buying an additional 556,970 shares in the last quarter. Deerfield Management Company L.P. Series C boosted its stake in shares of Pharvaris by 31.6% during the 2nd 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 during the last quarter. Sofinnova Investments Inc. boosted its position in shares of 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 acquiring an additional 16,862 shares during the last quarter. Sphera Funds Management LTD. grew its position in Pharvaris by 8.9% during the third quarter. Sphera Funds Management LTD. now owns 439,292 shares of the company’s stock valued at $8,136,000 after acquiring an additional 36,027 shares during the period. Finally, Patient Square Capital LP purchased a new stake in shares of Pharvaris during the 3rd quarter worth about $4,488,000.

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.