Pharvaris (NASDAQ:PHVS) Sets New 52-Week High – Time to Buy?

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

Analysts Set New Price Targets

A number of research firms recently commented on PHVS. Wedbush boosted their target price on shares of Pharvaris from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, April 7th. Morgan Stanley upped their price target on Pharvaris from $41.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. Wolfe Research initiated coverage on Pharvaris in a research report on Thursday, April 9th. They set an “outperform” rating and a $42.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Pharvaris in a research note on Tuesday, April 21st. Finally, Citizens Jmp reduced their price objective on Pharvaris from $75.00 to $74.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 13th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.64.

Pharvaris Stock Down 0.4%

The business’s 50 day simple moving average is $30.80 and its 200 day simple moving average is $28.14. The company has a market capitalization of $2.26 billion, a PE ratio of -10.87 and a beta of -2.35.

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

Insider Activity

In other Pharvaris news, Director Johannes Gerardus Chri Schikan sold 29,070 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $30.32, for a total transaction of $881,402.40. Following the sale, the director directly owned 355,167 shares of the company’s stock, valued at $10,768,663.44. The trade was a 7.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Glassman sold 10,000 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $29.82, for a total transaction of $298,200.00. Following the sale, the director directly owned 10,500 shares in the company, valued at approximately $313,110. This trade represents a 48.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 215,209 shares of company stock worth $6,431,945.

Institutional Investors Weigh In On Pharvaris

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