Pharvaris (NASDAQ:PHVS) Sees Large Volume Increase – Here’s What Happened

Shares of Pharvaris (NASDAQ:PHVS) saw strong trading volume on Friday . 40,333 shares traded hands during mid-day trading, an increase of 15% from the previous session’s volume of 34,958 shares.The stock last traded at $18.58 and had previously closed at $18.54.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer boosted their target price on shares of Pharvaris from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, September 6th.

Pharvaris Stock Performance

The company’s 50 day simple moving average is $20.76 and its 200-day simple moving average is $19.36. The firm has a market capitalization of $585.54 million, a PE ratio of -6.57 and a beta of -3.17.

Institutional Trading of Pharvaris

Large investors have recently modified their holdings of the business. Sofinnova Investments Inc. increased its position in shares of Pharvaris by 2.9% during the 2nd quarter. Sofinnova Investments Inc. now owns 601,534 shares of the company’s stock valued at $11,309,000 after purchasing an additional 16,862 shares during the last quarter. Deerfield Management Company L.P. Series C raised its position in shares of Pharvaris by 31.6% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,397,279 shares of the company’s stock worth $26,269,000 after acquiring an additional 335,687 shares in the last quarter. Novo Holdings A S boosted its position in shares of Pharvaris by 47.7% during the second quarter. Novo Holdings A S now owns 1,725,000 shares of the company’s stock valued at $32,430,000 after purchasing an additional 556,970 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Pharvaris in the third quarter worth $906,000. Finally, HighVista Strategies LLC raised its holdings in Pharvaris by 35.9% in the third quarter. HighVista Strategies LLC now owns 22,768 shares of the company’s stock worth $422,000 after purchasing an additional 6,018 shares in the last quarter.

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.