Shares of Pharvaris (NASDAQ:PHVS) dropped 5.3% during trading on Tuesday . The stock traded as low as $17.50 and last traded at $18.00. Approximately 1,039 shares changed hands during trading, a decline of 98% from the average daily volume of 51,301 shares. The stock had previously closed at $19.00.
Separately, Zacks Investment Research downgraded shares of Pharvaris from a “hold” rating to a “sell” rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $42.00.
The firm’s fifty day simple moving average is $17.21 and its 200 day simple moving average is $21.40. The company has a market capitalization of $573.12 million and a price-to-earnings ratio of -3.15.
Several large investors have recently added to or reduced their stakes in PHVS. Rokos Capital Management LLP acquired a new stake in shares of Pharvaris in the first quarter worth $68,000. Davidson Kempner Capital Management LP acquired a new stake in Pharvaris during the first quarter worth $98,000. Morgan Stanley acquired a new stake in Pharvaris during the first quarter worth $135,000. Ensign Peak Advisors Inc acquired a new stake in shares of Pharvaris in the 1st quarter valued at $140,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Pharvaris by 18.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,434 shares of the company’s stock valued at $299,000 after purchasing an additional 2,560 shares in the last quarter. 69.08% of the stock is currently owned by institutional investors.
Pharvaris Company Profile (NASDAQ:PHVS)
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 that is in Phase II clinical trial for the treatment of hereditary angioedema (HAE).
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