Pharvaris (NASDAQ:PHVS) Shares Down 11.7% – Here’s What Happened

Shares of Pharvaris (NASDAQ:PHVS) dropped 11.7% on Monday . The stock traded as low as $15.57 and last traded at $15.71. Approximately 7,724 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 42,822 shares. The stock had previously closed at $17.80.

Pharvaris Stock Performance

The company has a market capitalization of $547.97 million, a price-to-earnings ratio of -6.15 and a beta of -3.06. The business’s 50 day moving average price is $20.12 and its two-hundred day moving average price is $19.35.

Institutional Trading of Pharvaris

Institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Pharvaris during the third quarter worth $57,000. Barclays PLC purchased a new stake in shares of Pharvaris during the 3rd quarter worth about $106,000. HighVista Strategies LLC lifted its holdings in shares of Pharvaris by 35.9% during the 3rd quarter. HighVista Strategies LLC now owns 22,768 shares of the company’s stock valued at $422,000 after buying an additional 6,018 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Pharvaris in the 3rd quarter valued at approximately $526,000. Finally, Geode Capital Management LLC grew its position in Pharvaris by 18.4% in the third quarter. Geode Capital Management LLC now owns 36,977 shares of the company’s stock worth $685,000 after acquiring an additional 5,753 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.