Pharvaris (NASDAQ:PHVS) Sets New 12-Month High Following Analyst Upgrade

Pharvaris N.V. (NASDAQ:PHVS) reached a new 52-week high on Thursday after Royal Bank Of Canada raised their price target on the stock from $51.00 to $52.00. Royal Bank Of Canada currently has an outperform rating on the stock. Pharvaris traded as high as $36.65 and last traded at $36.46, with a volume of 1273185 shares trading hands. The stock had previously closed at $34.42.

Several other brokerages have also issued reports on PHVS. Weiss Ratings restated a “sell (d-)” rating on shares of Pharvaris in a research note on Friday, July 17th. Citizens Jmp raised their price objective on Pharvaris from $74.00 to $75.00 and gave the stock a “market outperform” rating in a research report on Thursday. Guggenheim lifted their price objective on Pharvaris from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday. Citigroup restated a “market outperform” rating on shares of Pharvaris in a research report on Thursday. Finally, Wells Fargo & Company began coverage on Pharvaris in a research note on Wednesday, July 15th. They issued an “overweight” rating and a $55.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.08.

Insider Activity

In other Pharvaris news, Director Viviane Monges sold 9,667 shares of Pharvaris stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $30.29, for a total transaction of $292,813.43. Following the sale, the director directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elisabeth Bjork sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $29.32, for a total value of $293,200.00. Following the completion of the sale, the director owned 15,167 shares in the company, valued at approximately $444,696.44. This represents a 39.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 158,322 shares of company stock valued at $5,371,886. 11.84% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System boosted its stake in shares of Pharvaris by 2.2% in the 4th quarter. California State Teachers Retirement System now owns 23,982 shares of the company’s stock valued at $666,000 after purchasing an additional 520 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Pharvaris by 30.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company’s stock worth $59,000 after purchasing an additional 783 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Pharvaris during the 2nd quarter worth about $41,000. GF Fund Management CO. LTD. bought a new position in Pharvaris during the 4th quarter valued at about $35,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in Pharvaris by 20.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 7,569 shares of the company’s stock valued at $210,000 after purchasing an additional 1,300 shares during the last quarter.

Pharvaris Trading Up 3.2%

The stock has a market capitalization of $2.30 billion, a P/E ratio of -11.52 and a beta of -2.31. The firm’s fifty day moving average is $33.71 and its 200-day moving average is $30.09.

Pharvaris (NASDAQ:PHVS) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.06). Equities research analysts expect that Pharvaris N.V. will post -2.97 EPS for the current year.

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.