Pharvaris (NASDAQ:PHVS) Shares Gap Down – Should You Sell?

Shares of Pharvaris (NASDAQ:PHVS) gapped down before the market opened on Friday . The stock had previously closed at $18.26, but opened at $17.81. Pharvaris shares last traded at $18.03, with a volume of 2,626 shares traded.

Analyst Upgrades and Downgrades

Separately, JMP Securities boosted 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 Price Performance

The firm has a 50 day simple moving average of $18.57 and a two-hundred day simple moving average of $19.33. The stock has a market cap of $922.34 million, a price-to-earnings ratio of -6.26 and a beta of -3.07.

Institutional Investors Weigh In On Pharvaris

Large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio bought a new position in shares of Pharvaris during the third quarter worth about $57,000. Barclays PLC bought a new position in Pharvaris in the third quarter valued at approximately $106,000. Palumbo Wealth Management LLC bought a new position in Pharvaris in the fourth quarter valued at approximately $196,000. HighVista Strategies LLC grew its stake in Pharvaris by 35.9% in the third quarter. HighVista Strategies LLC now owns 22,768 shares of the company’s stock valued at $422,000 after purchasing an additional 6,018 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Pharvaris in the third quarter valued at approximately $526,000.

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.