Pharvaris (NASDAQ:PHVS) Trading Up 5.5% - Still a Buy?

Pharvaris (NASDAQ:PHVS - Get Free Report) shares were up 5.5% during trading on Friday . The company traded as high as $15.79 and last traded at $16.32. Approximately 4,433 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 70,040 shares. The stock had previously closed at $15.46.

Wall Street Analyst Weigh In

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

Pharvaris Price Performance

The company has a fifty day simple moving average of $16.87 and a 200-day simple moving average of $19.06. The company has a market cap of $808.93 million, a P/E ratio of -5.53 and a beta of -3.02.

Hedge Funds Weigh In On Pharvaris

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC purchased a new stake in Pharvaris during the third quarter valued at about $526,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Pharvaris during the third quarter valued at approximately $906,000. State Street Corp purchased a new stake in shares of Pharvaris in the 3rd quarter valued at approximately $1,000,000. Geode Capital Management LLC boosted its stake in Pharvaris by 18.4% in the 3rd quarter. Geode Capital Management LLC now owns 36,977 shares of the company's stock worth $685,000 after purchasing an additional 5,753 shares during the period. Finally, Barclays PLC purchased a new position in Pharvaris during the 3rd quarter worth approximately $106,000.

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About Pharvaris

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.