Pharvaris (NASDAQ:PHVS) Sees Strong Trading Volume – Still a Buy?

Pharvaris N.V. (NASDAQ:PHVS) saw strong trading volume on Tuesday . 404,451 shares changed hands during mid-day trading, an increase of 23% from the previous session’s volume of 328,590 shares.The stock last traded at $36.9690 and had previously closed at $37.31.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. New Street Research set a $60.00 price objective on Pharvaris in a report on Friday, August 14th. UBS Group set a $74.00 target price on Pharvaris in a research note on Wednesday, May 13th. Royal Bank Of Canada lifted their target price on Pharvaris from $51.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Morgan Stanley upped their price target on shares of Pharvaris from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Finally, Citizens Jmp raised their price target on shares of Pharvaris from $74.00 to $75.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.08.

Pharvaris Stock Performance

The firm has a market capitalization of $2.41 billion, a PE ratio of -12.08 and a beta of -2.31. The company has a fifty day simple moving average of $34.28 and a two-hundred day simple moving average of $30.48.

Pharvaris (NASDAQ:PHVS) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.06). On average, equities analysts anticipate that Pharvaris N.V. will post -3.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Pharvaris

In other news, insider Anne Lesage sold 30,703 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider owned 93,969 shares of the company’s stock, valued at approximately $3,334,959.81. This represents a 24.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Berndt Modig sold 2,292 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $34.77, for a total transaction of $79,692.84. Following the completion of the sale, the chief executive officer directly owned 130,625 shares of the company’s stock, valued at $4,541,831.25. The trade was a 1.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 121,325 shares of company stock valued at $4,270,425 in the last 90 days.

Hedge Funds Weigh In On Pharvaris

Large investors have recently bought and sold shares of the business. venBio Partners LLC purchased a new stake in Pharvaris during the second quarter worth $160,569,809,000. Deerfield Management Company L.P. raised its position 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 worth $60,939,000 after acquiring an additional 425,000 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Pharvaris by 12.9% during the 2nd quarter. Wellington Management Group LLP now owns 2,392,934 shares of the company’s stock worth $82,748,000 after purchasing an additional 274,034 shares during the last quarter. Commodore Capital LP boosted 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 valued at $54,211,000 after purchasing an additional 29,525 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP boosted its position 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 purchasing an additional 772,583 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.