Pharvaris (NASDAQ:PHVS) Sets New 1-Year High – Still a Buy?

Pharvaris N.V. (NASDAQ:PHVS)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $35.91 and last traded at $34.58, with a volume of 1030840 shares. The stock had previously closed at $34.71.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Pharvaris from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Royal Bank Of Canada lowered their target price on shares of Pharvaris from $52.00 to $51.00 and set an “outperform” rating for the company in a research note on Monday, April 6th. Citigroup reaffirmed a “buy” rating on shares of Pharvaris in a report on Wednesday, April 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pharvaris in a research note on Tuesday, April 21st. Finally, Morgan Stanley lifted their target price on Pharvaris from $41.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.64.

Pharvaris Trading Down 0.4%

The firm’s 50-day simple moving average is $30.80 and its 200 day simple moving average is $28.14. The stock has a market cap of $2.26 billion, a P/E ratio of -10.87 and a beta of -2.35.

Pharvaris (NASDAQ:PHVS) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.70) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.12. On average, analysts anticipate that Pharvaris N.V. will post -3.2 EPS for the current year.

Insider Activity at Pharvaris

In other Pharvaris news, Director Johannes Gerardus Chri Schikan sold 29,070 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $30.32, for a total transaction of $881,402.40. Following the transaction, the director owned 355,167 shares of the company’s stock, valued at approximately $10,768,663.44. This trade represents a 7.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Berndt Modig sold 23,333 shares of the business’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $27.74, for a total transaction of $647,257.42. Following the sale, the chief executive officer owned 142,084 shares in the company, valued at $3,941,410.16. This trade represents a 14.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 215,209 shares of company stock worth $6,431,945 in the last ninety days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PHVS. Wellington Management Group LLP bought a new position in Pharvaris during the 3rd quarter valued at $43,282,000. Paradigm Biocapital Advisors LP lifted its holdings in shares of Pharvaris by 72.7% in the third quarter. Paradigm Biocapital Advisors LP now owns 1,835,494 shares of the company’s stock valued at $45,796,000 after buying an additional 772,583 shares during the period. Balyasny Asset Management L.P. bought a new position in Pharvaris during the third quarter valued at about $15,613,000. Commodore Capital LP boosted its stake in Pharvaris by 26.5% during the third quarter. Commodore Capital LP now owns 2,418,476 shares of the company’s stock valued at $60,341,000 after buying an additional 507,043 shares in the last quarter. Finally, General Atlantic L.P. grew its holdings in Pharvaris by 6.6% during the third quarter. General Atlantic L.P. now owns 8,031,252 shares of the company’s stock worth $200,380,000 after acquiring an additional 500,000 shares during the period.

Pharvaris Company Profile

Pharvaris is a clinical-stage biopharmaceutical company focused on discovering and developing novel oral therapies for rare bradykinin-driven diseases. The company’s core mission is to address conditions characterized by uncontrolled activation of the plasma kallikrein-kinin system, with a primary emphasis on hereditary angioedema (HAE), a debilitating disorder marked by recurrent swelling episodes.

The company’s lead program, PHA121, is an investigational once-daily oral plasma kallikrein inhibitor designed for prophylactic treatment of HAE and is advancing through clinical trials.