Pharvaris (NASDAQ:PHVS) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Pharvaris (NASDAQ:PHVS) saw unusually-high trading volume on Thursday . Approximately 52,867 shares traded hands during mid-day trading, an increase of 12% from the previous session’s volume of 47,296 shares.The stock last traded at $17.44 and had previously closed at $17.17.

Wall Street Analyst Weigh In

Separately, JMP Securities lifted their target price 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 Up 3.2 %

The firm has a market capitalization of $946.19 million, a price-to-earnings ratio of -6.46 and a beta of -3.07. The stock’s fifty day moving average is $18.65 and its two-hundred day moving average is $19.34.

Institutional Investors Weigh In On Pharvaris

Institutional investors and hedge funds have recently modified their holdings of the company. Palumbo Wealth Management LLC acquired a new position in Pharvaris during the fourth quarter worth approximately $196,000. Barclays PLC acquired a new position in shares of Pharvaris during the 3rd quarter worth approximately $106,000. Geode Capital Management LLC raised its stake in Pharvaris by 18.4% in the 3rd quarter. Geode Capital Management LLC now owns 36,977 shares of the company’s stock valued at $685,000 after acquiring an additional 5,753 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Pharvaris during the 3rd quarter valued at $57,000. Finally, Jane Street Group LLC bought a new position in Pharvaris during the third quarter worth $526,000.

Pharvaris Company Profile

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.