Pharvaris (NASDAQ:PHVS) Shares Gap Down to $21.09

Shares of Pharvaris (NASDAQ:PHVS) gapped down prior to trading on Friday . The stock had previously closed at $21.09, but opened at $20.30. Pharvaris shares last traded at $19.90, with a volume of 13,691 shares traded.

Analyst Upgrades and Downgrades

Separately, Oppenheimer boosted their price objective on Pharvaris from $38.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. One research 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.60.

Pharvaris Trading Down 7.5 %

The business has a 50-day moving average price of $18.32 and a 200-day moving average price of $19.95.

Pharvaris (NASDAQ:PHVS) last released its earnings results on Wednesday, August 14th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.02). Equities research analysts anticipate that Pharvaris will post -2.58 EPS for the current year.

Institutional Investors Weigh In On Pharvaris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blackstone Inc. purchased a new stake in shares of Pharvaris during the 4th quarter worth about $2,805,000. Sofinnova Investments Inc. boosted its stake in shares of Pharvaris by 2.9% during the 2nd 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 in the last quarter. Commodore Capital LP purchased a new stake in shares of Pharvaris during the 4th quarter worth about $22,440,000. 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 acquiring an additional 335,687 shares in the last quarter. Finally, Novo Holdings A S boosted its stake in shares of Pharvaris by 47.7% during the 2nd quarter. Novo Holdings A S now owns 1,725,000 shares of the company’s stock worth $32,430,000 after acquiring 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.