Pharvaris (NASDAQ:PHVS) Reaches New 52-Week Low - Here's What Happened

Pharvaris (NASDAQ:PHVS - Get Free Report)'s share price hit a new 52-week low during trading on Thursday . The company traded as low as $14.00 and last traded at $14.85, with a volume of 294 shares. The stock had previously closed at $14.95.

Wall Street Analysts Forecast Growth

Separately, JMP Securities increased their price target on shares of Pharvaris from $46.00 to $55.00 and gave the company a "market outperform" rating in a research report on Friday, January 31st.

Pharvaris Trading Down 8.9 %

The stock has a 50-day moving average price of $16.21 and a two-hundred day moving average price of $18.65. The stock has a market cap of $629.31 million, a price-to-earnings ratio of -4.30 and a beta of -2.84.

Institutional Investors Weigh In On Pharvaris

Several institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new position in shares of Pharvaris during the third quarter valued at about $57,000. JPMorgan Chase & Co. grew its position in Pharvaris by 1,125.3% during the 4th quarter. JPMorgan Chase & Co. now owns 3,100 shares of the company's stock worth $59,000 after purchasing an additional 2,847 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Pharvaris during the 4th quarter valued at approximately $64,000. Barclays PLC purchased a new position in shares of Pharvaris in the third quarter worth $106,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Pharvaris during the fourth quarter valued at $111,000.

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.