Pharvaris (NASDAQ:PHVS) Stock Price Down 3.2% – Time to Sell?

Shares of Pharvaris (NASDAQ:PHVS) fell 3.2% on Wednesday . The company traded as low as $15.94 and last traded at $15.97. 29,290 shares changed hands during trading, a decline of 58% from the average session volume of 70,377 shares. The stock had previously closed at $16.50.

Analyst Upgrades and Downgrades

Separately, JMP Securities raised their price objective on 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 Performance

The firm has a market cap of $843.96 million, a P/E ratio of -5.76 and a beta of -3.02. The stock has a fifty day simple moving average of $17.03 and a 200 day simple moving average of $19.11.

Institutional Trading of Pharvaris

Institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC bought a new stake in shares of Pharvaris in the 3rd quarter worth $526,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Pharvaris in the 3rd quarter worth $906,000. State Street Corp purchased a new position in shares of Pharvaris in the 3rd quarter worth $1,000,000. Geode Capital Management LLC boosted its stake in shares of 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 buying an additional 5,753 shares during the last quarter. Finally, Barclays PLC purchased a new position in shares of Pharvaris in the 3rd quarter worth $106,000.

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.