Pharvaris (NASDAQ:PHVS) Sets New 1-Year High – Here’s Why

Pharvaris N.V. (NASDAQ:PHVS) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $30.24 and last traded at $30.04, with a volume of 239282 shares. The stock had previously closed at $29.15.

Analysts Set New Price Targets

Several equities analysts have weighed in on PHVS shares. Wall Street Zen downgraded shares of Pharvaris from a “sell” rating to a “strong sell” rating in a report on Monday, April 13th. Wedbush lifted their price target on shares of Pharvaris from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, April 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pharvaris in a report on Thursday, January 22nd. Citigroup reaffirmed a “buy” rating on shares of Pharvaris in a report on Wednesday, April 15th. Finally, Wolfe Research started coverage on shares of Pharvaris in a report on Thursday, April 9th. They set an “outperform” rating and a $42.00 price target on the stock. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $42.73.

Pharvaris Stock Up 3.1%

The firm has a market cap of $1.96 billion, a PE ratio of -8.91 and a beta of -2.58. The firm’s fifty day simple moving average is $27.37 and its two-hundred day simple moving average is $25.79.

Pharvaris (NASDAQ:PHVS) last released its quarterly earnings data on Friday, April 3rd. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.15). As a group, analysts anticipate that Pharvaris N.V. will post -3.19 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Berndt Modig sold 2,292 shares of Pharvaris stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $28.60, for a total transaction of $65,551.20. Following the sale, the chief executive officer owned 139,792 shares in the company, valued at $3,998,051.20. This trade represents a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 11.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pharvaris

Several institutional investors and hedge funds have recently modified their holdings of PHVS. Wellington Management Group LLP bought a new stake in shares of Pharvaris during the third quarter valued at approximately $43,282,000. Paradigm Biocapital Advisors LP raised its position in shares of Pharvaris by 72.7% during 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 last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Pharvaris during the third quarter valued at approximately $15,613,000. Commodore Capital LP raised its position in shares of 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 during the last quarter. Finally, General Atlantic L.P. raised its position in shares of Pharvaris by 6.6% during the third quarter. General Atlantic L.P. now owns 8,031,252 shares of the company’s stock valued at $200,380,000 after buying an additional 500,000 shares during the last quarter.

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.