Pharvaris (NASDAQ:PHVS) Announces Quarterly Earnings Results

Pharvaris (NASDAQ:PHVS) announced its earnings results on Wednesday. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.06), Zacks reports.

Pharvaris Stock Performance

PHVS stock opened at $34.04 on Friday. Pharvaris has a one year low of $20.65 and a one year high of $36.93. The company has a fifty day moving average of $33.63 and a 200-day moving average of $30.06. The stock has a market capitalization of $2.23 billion, a PE ratio of -11.16 and a beta of -2.31.

Analysts Set New Price Targets

Several analysts recently weighed in on PHVS shares. Royal Bank Of Canada lifted their target price on shares of Pharvaris from $51.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday. Wall Street Zen cut shares of Pharvaris from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. UBS Group set a $74.00 price target on Pharvaris in a report on Wednesday, May 13th. HC Wainwright restated a “buy” rating on shares of Pharvaris in a research report on Friday. Finally, Guggenheim lifted their price target on shares of Pharvaris from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.33.

Insider Activity

In related news, Director Viviane Monges sold 9,667 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $30.29, for a total transaction of $292,813.43. Following the sale, the director owned 5,500 shares of the company’s stock, valued at approximately $166,595. The trade was a 63.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David W. Nassif sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $30.31, for a total value of $303,100.00. Following the completion of the sale, the chief financial officer owned 120,300 shares in the company, valued at approximately $3,646,293. This represents a 7.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 158,322 shares of company stock valued at $5,371,886 over the last three months. 11.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pharvaris

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP acquired a new stake in shares of Pharvaris in the third quarter valued at approximately $43,282,000. Paradigm Biocapital Advisors LP grew its position 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 purchasing an additional 772,583 shares during the period. Balyasny Asset Management L.P. acquired a new position in shares of Pharvaris during the 3rd quarter valued at about $15,613,000. Deerfield Management Company L.P. lifted its holdings in shares of Pharvaris by 21.1% during the 3rd quarter. Deerfield Management Company L.P. now owns 2,442,464 shares of the company’s stock worth $60,939,000 after acquiring an additional 425,000 shares during the period. Finally, venBio Partners LLC lifted its holdings in shares of Pharvaris by 8.2% during the 3rd quarter. venBio Partners LLC now owns 4,639,304 shares of the company’s stock worth $115,751,000 after acquiring an additional 350,000 shares during the period.

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.