Pharvaris (NASDAQ:PHVS) Shares Up 7.8% - Here's Why

Pharvaris (NASDAQ:PHVS - Get Free Report) shares were up 7.8% during mid-day trading on Tuesday . The company traded as high as $12.71 and last traded at $12.94. Approximately 18,870 shares traded hands during trading, a decline of 73% from the average daily volume of 71,167 shares. The stock had previously closed at $12.00.

Analysts Set New Price Targets

Separately, JMP Securities lifted 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 Stock Up 2.0 %

The company has a market cap of $732.06 million, a PE ratio of -5.00 and a beta of -2.84. The business's 50 day moving average price is $15.13 and its 200-day moving average price is $18.19.

Pharvaris (NASDAQ:PHVS - Get Free Report) last posted its quarterly earnings data on Monday, April 7th. The company reported ($0.68) earnings per share for the quarter, beating analysts' consensus estimates of ($0.74) by $0.06. Equities analysts expect that Pharvaris will post -2.71 earnings per share for the current year.

Hedge Funds Weigh In On Pharvaris

A number of institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio bought a new stake in shares of Pharvaris in the third quarter worth $57,000. JPMorgan Chase & Co. increased its position 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 worth $59,000 after purchasing an additional 2,847 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Pharvaris in the 4th quarter valued at about $64,000. Barclays PLC bought a new position in shares of Pharvaris during the third quarter worth about $106,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Pharvaris in the fourth quarter worth about $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.