Pharvaris (NASDAQ:PHVS) Shares Up 6% - Here's Why

Pharvaris (NASDAQ:PHVS - Get Free Report)'s share price rose 6% during mid-day trading on Thursday . The company traded as high as $15.80 and last traded at $16.41. Approximately 3,241 shares changed hands during trading, a decline of 95% from the average daily volume of 69,529 shares. The stock had previously closed at $15.48.

Analyst Ratings Changes

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

Pharvaris Stock Down 0.6 %

The stock has a market cap of $820.95 million, a price-to-earnings ratio of -5.61 and a beta of -3.02. The company's 50-day moving average is $16.73 and its 200-day moving average is $18.90.

Institutional Trading of Pharvaris

Several institutional investors have recently bought and sold shares of PHVS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Pharvaris by 30.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,734 shares of the company's stock worth $1,222,000 after acquiring an additional 14,838 shares in the last quarter. Woodline Partners LP bought a new stake in shares of Pharvaris in the 4th quarter worth about $853,000. Soleus Capital Management L.P. increased its position in shares of Pharvaris by 36.2% during the 4th quarter. Soleus Capital Management L.P. now owns 814,652 shares of the company's stock worth $15,617,000 after purchasing an additional 216,483 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Pharvaris in the 4th quarter worth approximately $152,000. Finally, Octagon Capital Advisors LP boosted its stake in Pharvaris by 25.4% in the fourth quarter. Octagon Capital Advisors LP now owns 778,000 shares of the company's stock worth $14,914,000 after purchasing an additional 157,530 shares in the last quarter.

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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.