Pharvaris (NASDAQ:PHVS) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of Pharvaris (NASDAQ:PHVS) from a hold rating to a sell rating in a research report report published on Saturday.

PHVS has been the subject of several other reports. Citizens Jmp dropped their target price 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. HC Wainwright reiterated a “buy” rating on shares of Pharvaris in a report on Tuesday, June 16th. Citigroup reissued a “buy” rating on shares of Pharvaris in a research report on Wednesday, April 15th. Royal Bank Of Canada cut their price target on shares of Pharvaris from $52.00 to $51.00 and set an “outperform” rating on the stock in a research note on Monday, April 6th. Finally, Wells Fargo & Company began coverage on Pharvaris in a research note on Wednesday. They set an “overweight” rating and a $55.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.08.

Pharvaris Stock Performance

Pharvaris stock opened at $34.94 on Friday. The stock’s fifty day moving average is $32.16 and its two-hundred day moving average is $28.99. Pharvaris has a fifty-two week low of $19.12 and a fifty-two week high of $36.60. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -10.99 and a beta of -2.34.

Pharvaris (NASDAQ:PHVS) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.82) by $0.12. As a group, sell-side analysts forecast that Pharvaris will post -3.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Anne Lesage sold 30,703 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $35.49, for a total value of $1,089,649.47. Following the sale, the insider directly owned 93,969 shares of the company’s stock, valued at $3,334,959.81. This represents a 24.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Wim Souverijns sold 10,000 shares of Pharvaris stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $29.92, for a total value of $299,200.00. Following the completion of the transaction, the insider owned 45,111 shares of the company’s stock, valued at approximately $1,349,721.12. The trade was a 18.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 303,356 shares of company stock worth $9,746,065 over the last quarter. Company insiders own 11.84% of the company’s stock.

Institutional Trading of Pharvaris

A number of hedge funds and other institutional investors have recently made changes to their positions in PHVS. venBio Partners LLC increased its stake in Pharvaris by 8.2% in the 3rd quarter. venBio Partners LLC now owns 4,639,304 shares of the company’s stock valued at $115,751,000 after buying an additional 350,000 shares during the period. Deerfield Management Company L.P. lifted its stake in shares of Pharvaris by 21.1% in the 3rd quarter. Deerfield Management Company L.P. now owns 2,442,464 shares of the company’s stock valued at $60,939,000 after purchasing an additional 425,000 shares during the last quarter. Commodore Capital LP increased its position in Pharvaris by 1.6% during the first quarter. Commodore Capital LP now owns 1,918,970 shares of the company’s stock worth $54,211,000 after buying an additional 29,525 shares during the last quarter. Paradigm Biocapital Advisors LP raised its holdings in 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 in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in Pharvaris in the 3rd quarter worth approximately $43,282,000.

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.