Pharvaris (NASDAQ:PHVS) Receives “Overweight” Rating from Morgan Stanley

Pharvaris (NASDAQ:PHVS)‘s stock had its “overweight” rating reiterated by analysts at Morgan Stanley in a note issued to investors on Monday, Benzinga reports. They presently have a $34.00 target price on the stock. Morgan Stanley’s target price would indicate a potential upside of 59.70% from the stock’s previous close.

Several other research firms have also issued reports on PHVS. JMP Securities increased their target price on shares of Pharvaris from $49.00 to $50.00 and gave the stock a “market outperform” rating in a research note on Thursday, April 11th. Wedbush restated an “outperform” rating and set a $35.00 price target on shares of Pharvaris in a research report on Thursday, April 11th.

Pharvaris Price Performance

PHVS stock opened at $21.29 on Monday. The company’s 50-day simple moving average is $23.73 and its 200-day simple moving average is $23.34. Pharvaris has a 52-week low of $7.93 and a 52-week high of $33.00.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. venBio Partners LLC raised its position in shares of Pharvaris by 15.4% during the 4th quarter. venBio Partners LLC now owns 4,919,504 shares of the company’s stock worth $137,992,000 after purchasing an additional 654,832 shares during the last quarter. Commodore Capital LP acquired a new position in shares of Pharvaris during the 4th quarter worth about $22,440,000. Vivo Capital LLC acquired a new stake in Pharvaris in the 4th quarter valued at about $7,994,000. Blackstone Inc. acquired a new stake in Pharvaris in the 4th quarter valued at about $2,805,000. Finally, Walleye Capital LLC raised its holdings in Pharvaris by 15.2% in the 3rd quarter. Walleye Capital LLC now owns 81,017 shares of the company’s stock valued at $1,691,000 after acquiring an additional 10,691 shares during the last quarter.

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 that is in Phase II clinical trial for the treatment of hereditary angioedema (HAE).