Pharvaris (NASDAQ:PHVS) Announces Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Pharvaris (NASDAQ:PHVS) issued its earnings results on Tuesday. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.82) by $0.12, Zacks reports.

Pharvaris Stock Up 4.3%

PHVS stock traded up $1.30 during midday trading on Tuesday, reaching $31.25. 321,673 shares of the company’s stock traded hands, compared to its average volume of 218,697. Pharvaris has a 52 week low of $14.59 and a 52 week high of $31.65. The company has a market cap of $2.04 billion, a price-to-earnings ratio of -9.27 and a beta of -2.34. The firm’s fifty day moving average price is $27.84 and its 200-day moving average price is $26.36.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PHVS. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Pharvaris in a research note on Tuesday, March 3rd. Citigroup reaffirmed a “buy” rating on shares of Pharvaris in a research note on Wednesday, April 15th. Wolfe Research initiated coverage on shares of Pharvaris in a research note on Thursday, April 9th. They issued an “outperform” rating and a $42.00 price objective on the stock. Wedbush upped their price objective on shares of Pharvaris from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, April 7th. Finally, Wall Street Zen cut Pharvaris from a “sell” rating to a “strong sell” rating in a report on Monday, April 13th. Eleven 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. According to data from MarketBeat.com, Pharvaris has an average rating of “Moderate Buy” and an average target price of $42.73.

Insider Buying and Selling at Pharvaris

In related news, CEO Berndt Modig sold 23,333 shares of the company’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $27.74, for a total transaction of $647,257.42. Following the completion of the sale, the chief executive officer owned 142,084 shares in the company, valued at approximately $3,941,410.16. This represents a 14.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Johannes Gerardus Chri Schikan sold 29,070 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $30.32, for a total value of $881,402.40. Following the transaction, the director owned 355,167 shares in the company, valued at approximately $10,768,663.44. This trade represents a 7.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 150,659 shares of company stock worth $4,489,587 in the last quarter. 11.84% of the stock is owned by insiders.

Hedge Funds Weigh In On Pharvaris

Hedge funds have recently modified their holdings of the company. California State Teachers Retirement System increased its position in shares of Pharvaris by 2.2% during the 4th quarter. California State Teachers Retirement System now owns 23,982 shares of the company’s stock valued at $666,000 after purchasing an additional 520 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Pharvaris by 30.6% in the second quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company’s stock worth $59,000 after purchasing an additional 783 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Pharvaris by 20.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 7,569 shares of the company’s stock worth $210,000 after purchasing an additional 1,300 shares in the last quarter. Legal & General Group Plc grew its stake in Pharvaris by 17.2% during the second quarter. Legal & General Group Plc now owns 11,550 shares of the company’s stock valued at $203,000 after acquiring an additional 1,695 shares in the last quarter. Finally, Swiss National Bank grew its stake in Pharvaris by 5.7% during the fourth quarter. Swiss National Bank now owns 44,757 shares of the company’s stock valued at $1,242,000 after acquiring an additional 2,400 shares in the last quarter.

About Pharvaris

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.