Pharvaris (NASDAQ:PHVS) Raised to Strong-Buy at Wells Fargo & Company

Pharvaris (NASDAQ:PHVS) was upgraded by investment analysts at Wells Fargo & Company to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

PHVS has been the topic of a number of other reports. Wall Street Zen upgraded Pharvaris from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Citigroup restated a “buy” rating on shares of Pharvaris in a report on Wednesday, April 15th. HC Wainwright restated a “buy” rating on shares of Pharvaris in a report on Tuesday, June 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Pharvaris in a report on Tuesday, April 21st. Finally, UBS Group set a $74.00 target price on Pharvaris in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.08.

Pharvaris Trading Up 2.1%

Shares of Pharvaris stock opened at $35.16 on Wednesday. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -11.06 and a beta of -2.34. Pharvaris has a 1-year low of $19.12 and a 1-year high of $36.60. The firm’s 50-day moving average price is $31.98 and its two-hundred day moving average price is $28.89.

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. As a group, equities research analysts predict that Pharvaris will post -3.2 EPS for the current year.

Insider Buying and Selling at Pharvaris

In related news, insider Anne Lesage sold 27,872 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $35.48, for a total value of $988,898.56. Following the transaction, the insider owned 58,750 shares in the company, valued at approximately $2,084,450. This represents a 32.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anna Nijdam sold 2,670 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $30.87, for a total value of $82,422.90. Following the completion of the transaction, the insider directly owned 46,275 shares in the company, valued at $1,428,509.25. The trade was a 5.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 303,356 shares of company stock worth $9,746,065 in the last ninety days. Insiders own 11.84% of the company’s stock.

Hedge Funds Weigh In On Pharvaris

A number of hedge funds have recently added to or reduced their stakes in PHVS. GF Fund Management CO. LTD. bought a new position in shares of Pharvaris in the fourth quarter worth $35,000. CoreCap Advisors LLC acquired a new position in Pharvaris during the 2nd quarter worth approximately $93,000. Barclays PLC acquired a new position in shares of Pharvaris during the fourth quarter worth $77,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Pharvaris in the fourth quarter valued at about $86,000. Finally, JPMorgan Chase & Co. raised its holdings in Pharvaris by 30.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company’s stock valued at $59,000 after buying an additional 783 shares during 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.