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

Pharvaris (NASDAQ:PHVS) shares gapped down before the market opened on Monday . The stock had previously closed at $21.90, but opened at $21.22. Pharvaris shares last traded at $21.39, with a volume of 21,188 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Oppenheimer lifted their price objective on Pharvaris from $38.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Pharvaris currently has an average rating of “Moderate Buy” and a consensus target price of $33.60.

Pharvaris Stock Down 10.7 %

The business has a 50-day simple moving average of $21.05 and a two-hundred day simple moving average of $19.31. The company has a market cap of $622.47 million, a price-to-earnings ratio of -7.29 and a beta of -3.15.

Hedge Funds Weigh In On Pharvaris

A number of institutional investors have recently made changes to their positions in the business. Barclays PLC bought a new position in Pharvaris during the third quarter valued at about $106,000. Geode Capital Management LLC grew its stake in shares of Pharvaris by 18.4% in the 3rd quarter. Geode Capital Management LLC now owns 36,977 shares of the company’s stock valued at $685,000 after purchasing an additional 5,753 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Pharvaris in the 3rd quarter valued at approximately $57,000. Jane Street Group LLC bought a new stake in shares of Pharvaris in the 3rd quarter valued at approximately $526,000. Finally, Sphera Funds Management LTD. grew its stake in shares of Pharvaris by 8.9% in the 3rd quarter. Sphera Funds Management LTD. now owns 439,292 shares of the company’s stock valued at $8,136,000 after purchasing an additional 36,027 shares during the period.

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 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.