Pharvaris (NASDAQ:PHVS) Trading Down 4.3% – Here’s What Happened

Pharvaris (NASDAQ:PHVS) was down 4.3% on Tuesday . The company traded as low as $14.50 and last traded at $15.02. Approximately 7,303 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 71,851 shares. The stock had previously closed at $15.70.

Analyst Upgrades and Downgrades

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

Pharvaris Price Performance

The stock’s 50 day moving average is $16.49 and its 200-day moving average is $18.80. The company has a market capitalization of $781.74 million, a P/E ratio of -5.34 and a beta of -3.02.

Institutional Investors Weigh In On Pharvaris

Hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Pharvaris by 30.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,734 shares of the company’s stock valued at $1,222,000 after buying an additional 14,838 shares during the period. Woodline Partners LP bought a new stake in Pharvaris during the fourth quarter worth about $853,000. Soleus Capital Management L.P. increased its stake in shares of Pharvaris by 36.2% during the fourth quarter. Soleus Capital Management L.P. now owns 814,652 shares of the company’s stock valued at $15,617,000 after purchasing an additional 216,483 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Pharvaris during the fourth quarter valued at approximately $152,000. Finally, Octagon Capital Advisors LP lifted its stake in shares of Pharvaris by 25.4% in the fourth quarter. Octagon Capital Advisors LP now owns 778,000 shares of the company’s stock worth $14,914,000 after buying an additional 157,530 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.