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

Pharvaris (NASDAQ:PHVS) gapped down prior to trading on Monday . The stock had previously closed at $21.90, but opened at $21.22. Pharvaris shares last traded at $21.39, with a volume of 21,188 shares changing hands.

Analysts Set New Price Targets

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

Pharvaris Trading Up 3.3 %

The business has a 50-day simple moving average of $21.07 and a two-hundred day simple moving average of $19.29.

Hedge Funds Weigh In On Pharvaris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Novo Holdings A S lifted its stake in shares of Pharvaris by 47.7% during 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. Deerfield Management Company L.P. Series C lifted its position in Pharvaris by 31.6% during 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 acquiring an additional 335,687 shares during the last quarter. Sofinnova Investments Inc. boosted its holdings in shares of Pharvaris by 2.9% during the second quarter. Sofinnova Investments Inc. now owns 601,534 shares of the company’s stock worth $11,309,000 after acquiring an additional 16,862 shares during the period. Sphera Funds Management LTD. grew its position in shares of Pharvaris by 8.9% in the third quarter. Sphera Funds Management LTD. now owns 439,292 shares of the company’s stock valued at $8,136,000 after purchasing an additional 36,027 shares during the last quarter. Finally, Patient Square Capital LP acquired a new position in shares of Pharvaris in the third quarter valued at approximately $4,488,000.

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.