Pharvaris (NASDAQ:PHVS) Trading Down 7.9% – Time to Sell?

Pharvaris (NASDAQ:PHVS) shares fell 7.9% on Thursday . The stock traded as low as $22.99 and last traded at $23.03. 29,500 shares traded hands during trading, a decline of 67% from the average session volume of 89,179 shares. The stock had previously closed at $25.01.

Analyst Upgrades and Downgrades

Separately, Oppenheimer raised their target price on shares of Pharvaris from $38.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Pharvaris presently has an average rating of “Moderate Buy” and a consensus target price of $33.60.

Pharvaris Price Performance

The firm’s fifty day moving average price is $20.54 and its 200 day moving average price is $19.44.

Pharvaris (NASDAQ:PHVS) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.02). On average, sell-side analysts expect that Pharvaris will post -2.69 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PHVS. Sofinnova Investments Inc. grew its position in shares of Pharvaris by 2.9% in the 2nd quarter. Sofinnova Investments Inc. now owns 601,534 shares of the company’s stock worth $11,309,000 after buying an additional 16,862 shares during the last quarter. Deerfield Management Company L.P. Series C grew 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 buying an additional 335,687 shares during the last quarter. Finally, Novo Holdings A S grew its position in shares of Pharvaris by 47.7% in the 2nd quarter. Novo Holdings A S now owns 1,725,000 shares of the company’s stock worth $32,430,000 after buying an additional 556,970 shares during 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.