Pharvaris (NASDAQ:PHVS) Shares Gap Up to $15.72

Pharvaris (NASDAQ:PHVS) gapped up before the market opened on Thursday . The stock had previously closed at $15.72, but opened at $16.39. Pharvaris shares last traded at $16.39, with a volume of 160 shares traded.

Separately, Zacks Investment Research cut Pharvaris from a “hold” rating to a “sell” rating in a research note on Saturday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pharvaris presently has an average rating of “Hold” and an average target price of $42.00.

The company has a 50-day moving average of $17.94 and a 200-day moving average of $19.87. The company has a market capitalization of $521.86 million and a price-to-earnings ratio of -2.68.

Pharvaris (NASDAQ:PHVS) last announced its earnings results on Friday, July 30th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.44) by ($0.50). On average, analysts anticipate that Pharvaris will post -2.59 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in PHVS. General Atlantic LLC acquired a new position in shares of Pharvaris in the first quarter valued at about $67,716,000. Viking Global Investors LP acquired a new position in shares of Pharvaris in the first quarter valued at about $67,910,000. venBio Partners LLC acquired a new position in shares of Pharvaris in the first quarter valued at about $64,447,000. Deerfield Management Company L.P. Series C acquired a new position in shares of Pharvaris in the first quarter valued at about $28,897,000. Finally, Cormorant Asset Management LP acquired a new position in shares of Pharvaris in the first quarter valued at about $23,811,000. 69.08% of the stock is currently owned by institutional investors and hedge funds.

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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