Pharvaris (NASDAQ:PHVS) Sees Strong Trading Volume – What’s Next?

Shares of Pharvaris (NASDAQ:PHVS) saw unusually-high trading volume on Wednesday . Approximately 37,985 shares traded hands during mid-day trading, a decline of 19% from the previous session’s volume of 47,045 shares.The stock last traded at $17.41 and had previously closed at $17.85.

Wall Street Analysts Forecast Growth

Separately, JMP Securities raised their price target on Pharvaris from $46.00 to $55.00 and gave the stock a “market outperform” rating in a report on Friday, January 31st.

Pharvaris Stock Performance

The firm’s 50 day moving average is $18.33 and its 200 day moving average is $19.32.

Hedge Funds Weigh In On Pharvaris

Hedge funds have recently bought and sold shares of the company. FMR LLC increased its stake in Pharvaris by 3.6% in the 4th quarter. FMR LLC now owns 5,395,370 shares of the company’s stock worth $103,429,000 after acquiring an additional 189,714 shares during the last quarter. Sphera Funds Management LTD. increased its stake in Pharvaris by 8.9% in the 3rd quarter. Sphera Funds Management LTD. now owns 439,292 shares of the company’s stock worth $8,136,000 after acquiring an additional 36,027 shares during the last quarter. Patient Square Capital LP bought a new position in Pharvaris in the 3rd quarter worth about $4,488,000. State Street Corp bought a new position in Pharvaris in the 3rd quarter worth about $1,000,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Pharvaris in the 3rd quarter worth about $906,000.

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.