Pharvaris (NASDAQ:PHVS) Shares Down 3.5% – Here’s What Happened

Pharvaris (NASDAQ:PHVS) fell 3.5% during trading on Tuesday . The stock traded as low as $18.36 and last traded at $18.36. 4,298 shares traded hands during trading, a decline of 95% from the average session volume of 87,379 shares. The stock had previously closed at $19.02.

Analyst Ratings Changes

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

Pharvaris Stock Up 0.8 %

The company has a market cap of $610.37 million, a P/E ratio of -6.85 and a beta of -3.17. The business has a fifty day moving average of $20.88 and a 200 day moving average of $19.37.

Institutional Investors Weigh In On Pharvaris

Institutional investors have recently modified their holdings of the stock. 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 buying an additional 556,970 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its position in Pharvaris by 31.6% in the second quarter. Deerfield Management Company L.P. Series C now owns 1,397,279 shares of the company’s stock worth $26,269,000 after purchasing an additional 335,687 shares during the last quarter. Patient Square Capital LP purchased a new position in Pharvaris in the third quarter worth about $4,488,000. State Street Corp bought a new position in shares of Pharvaris in the third quarter worth about $1,000,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Pharvaris in the third quarter worth about $906,000.

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.