Pharvaris (NASDAQ:PHVS) Shares Gap Up – Here’s Why

Pharvaris (NASDAQ:PHVS) shares gapped up before the market opened on Monday . The stock had previously closed at $15.01, but opened at $15.40. Pharvaris shares last traded at $15.10, with a volume of 6,043 shares changing hands.

Wall Street Analyst Weigh In

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

Pharvaris Trading Up 7.7 %

The company has a market cap of $839.25 million, a price-to-earnings ratio of -5.73 and a beta of -3.02. The business has a fifty day moving average price of $17.26 and a two-hundred day moving average price of $19.17.

Hedge Funds Weigh In On Pharvaris

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new position in Pharvaris in the third quarter worth $57,000. JPMorgan Chase & Co. increased its stake in shares of Pharvaris by 1,125.3% in the fourth 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 stake in Pharvaris in the fourth quarter worth about $64,000. Barclays PLC acquired a new stake in Pharvaris in the third quarter worth about $106,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Pharvaris in the fourth quarter worth about $111,000.

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.