Pharvaris (NASDAQ:PHVS) Reaches New 1-Year High – Time to Buy?

Pharvaris N.V. (NASDAQ:PHVS) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $36.93 and last traded at $36.59, with a volume of 22959 shares trading hands. The stock had previously closed at $36.39.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PHVS shares. HC Wainwright reissued a “buy” rating on shares of Pharvaris in a research note on Friday, August 14th. Royal Bank Of Canada raised their target price on Pharvaris from $51.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, August 13th. Guggenheim lifted their price target on Pharvaris from $39.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, August 13th. UBS Group set a $74.00 price target on shares of Pharvaris in a research report on Wednesday, May 13th. Finally, HSBC raised shares of Pharvaris to an “overweight” rating in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.08.

Pharvaris Stock Performance

The stock has a market capitalization of $2.40 billion, a P/E ratio of -12.03 and a beta of -2.31. The stock has a 50-day simple moving average of $34.06 and a 200 day simple moving average of $30.35.

Pharvaris (NASDAQ:PHVS) last released its earnings results on Wednesday, August 12th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.06). Equities analysts predict that Pharvaris N.V. will post -3.15 earnings per share for the current year.

Insider Buying and Selling at Pharvaris

In other news, CEO Berndt Modig sold 2,292 shares of Pharvaris stock in a transaction that occurred on Friday, August 14th. The shares were 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 owned 130,625 shares in the company, valued at $4,541,831.25. The trade was a 1.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Anne Lesage sold 30,703 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $35.49, for a total transaction of $1,089,649.47. Following the sale, the insider directly owned 93,969 shares of the company’s stock, valued at approximately $3,334,959.81. This trade represents a 24.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 121,325 shares of company stock worth $4,270,425 over the last quarter. Company insiders own 11.84% of the company’s stock.

Institutional Investors Weigh In On Pharvaris

A number of institutional investors have recently made changes to their positions in the stock. Moore Capital Management LP acquired a new position in Pharvaris in the second quarter valued at about $1,522,000. Alyeska Investment Group L.P. grew its position in shares of Pharvaris by 225.5% during the 2nd quarter. Alyeska Investment Group L.P. now owns 406,829 shares of the company’s stock worth $14,068,000 after buying an additional 281,829 shares during the period. Wellington Management Group LLP grew its position 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 buying an additional 274,034 shares during the period. venBio Partners LLC bought a new stake in shares of Pharvaris in the 2nd quarter valued at about $160,569,809,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Pharvaris in the 2nd quarter valued at about $196,000.

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.