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

Pharvaris (NASDAQ:PHVS) shares gapped down before the market opened 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 changing hands.

Wall Street Analyst Weigh In

Separately, Oppenheimer increased their price target on shares of Pharvaris from $38.00 to $42.00 and gave the company 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 given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.60.

Pharvaris Price Performance

The stock has a market capitalization of $636.80 million, a P/E ratio of -7.43 and a beta of -3.10. The business’s 50 day simple moving average is $18.25 and its 200-day simple moving average is $19.97.

Pharvaris (NASDAQ:PHVS) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.02). Research analysts anticipate that Pharvaris will post -2.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pharvaris

A number of hedge funds and other institutional investors have recently bought and sold shares of PHVS. Blackstone Inc. acquired a new stake in Pharvaris in the fourth quarter worth $2,805,000. Sofinnova Investments Inc. raised its holdings in Pharvaris by 2.9% in the second quarter. Sofinnova Investments Inc. now owns 601,534 shares of the company’s stock worth $11,309,000 after purchasing an additional 16,862 shares during the period. Commodore Capital LP acquired a new stake in Pharvaris in the fourth quarter worth $22,440,000. Deerfield Management Company L.P. Series C raised its holdings in Pharvaris by 31.6% in the second quarter. Deerfield Management Company L.P. Series C now owns 1,397,279 shares of the company’s stock worth $26,269,000 after purchasing an additional 335,687 shares during the period. Finally, Novo Holdings A S raised its holdings in 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 purchasing an additional 556,970 shares during the period.

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.