Pharvaris (NASDAQ:PHVS) Trading Down 4.3% - Here's What Happened

Pharvaris (NASDAQ:PHVS - Get Free Report)'s share price fell 4.3% during trading on Tuesday . The stock traded as low as $14.50 and last traded at $15.02. 7,303 shares were traded during mid-day trading, a decline of 90% from the average session volume of 71,851 shares. The stock had previously closed at $15.70.

Analyst Ratings Changes

Separately, JMP Securities raised their price objective 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 6.7 %

The firm has a market cap of $713.50 million, a price-to-earnings ratio of -4.87 and a beta of -3.02. The stock has a 50-day moving average of $16.40 and a two-hundred day moving average of $18.77.

Institutional Investors Weigh In On Pharvaris

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

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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.