Pharvaris (NASDAQ:PHVS) Stock Price Down 7.9% – What’s Next?

Shares of Pharvaris (NASDAQ:PHVS) dropped 7.9% on Thursday . The company traded as low as $22.99 and last traded at $23.03. Approximately 29,500 shares changed hands during trading, a decline of 67% from the average daily volume of 89,179 shares. The stock had previously closed at $25.01.

Wall Street Analyst Weigh In

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

Pharvaris Stock Down 10.8 %

The business has a 50-day moving average price of $20.35 and a two-hundred day moving average price of $19.41. The company has a market cap of $710.67 million, a P/E ratio of -8.87 and a beta of -3.15.

Pharvaris (NASDAQ:PHVS) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.02). As a group, sell-side analysts expect that Pharvaris will post -2.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Pharvaris

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PHVS. Novo Holdings A S increased its holdings in shares of Pharvaris by 47.7% in the second 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. Deerfield Management Company L.P. Series C boosted its position in Pharvaris by 31.6% during the second quarter. Deerfield Management Company L.P. Series C now owns 1,397,279 shares of the company’s stock valued at $26,269,000 after purchasing an additional 335,687 shares during the last quarter. Finally, Sofinnova Investments Inc. boosted its position in Pharvaris by 2.9% during the second quarter. Sofinnova Investments Inc. now owns 601,534 shares of the company’s stock valued at $11,309,000 after purchasing an additional 16,862 shares during 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.