Pharvaris (NASDAQ:PHVS) Sees Large Volume Increase – Here’s Why

Pharvaris N.V. (NASDAQ:PHVS) saw an uptick in trading volume on Tuesday . Approximately 611,090 shares were traded during trading, an increase of 140% from the previous session’s volume of 254,849 shares.The stock last traded at $35.3840 and had previously closed at $34.71.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PHVS shares. Wall Street Zen raised shares of Pharvaris from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Morgan Stanley increased their price objective on Pharvaris from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. HC Wainwright restated a “buy” rating on shares of Pharvaris in a research note on Tuesday, June 16th. UBS Group set a $74.00 price target on Pharvaris in a report on Wednesday, May 13th. Finally, Royal Bank Of Canada dropped their price objective on Pharvaris from $52.00 to $51.00 and set an “outperform” rating on the stock in a report on Monday, April 6th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.64.

Pharvaris Stock Up 1.2%

The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -11.10 and a beta of -2.35. The company’s 50-day simple moving average is $30.68 and its 200 day simple moving average is $28.07.

Pharvaris (NASDAQ:PHVS) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.12. On average, equities analysts expect that Pharvaris N.V. will post -3.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Anne Lesage sold 21,700 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $30.26, for a total value of $656,642.00. Following the completion of the sale, the insider directly owned 56,450 shares in the company, valued at approximately $1,708,177. The trade was a 27.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Berndt Modig sold 23,333 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $27.74, for a total value of $647,257.42. Following the sale, the chief executive officer directly owned 142,084 shares of the company’s stock, valued at $3,941,410.16. The trade was a 14.11% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 215,209 shares of company stock worth $6,431,945 in the last three months.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PHVS. Geode Capital Management LLC boosted its holdings in Pharvaris by 41.1% during the second quarter. Geode Capital Management LLC now owns 54,102 shares of the company’s stock valued at $952,000 after acquiring an additional 15,769 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Pharvaris by 30.6% in the second quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company’s stock worth $59,000 after purchasing an additional 783 shares during the period. Legal & General Group Plc lifted its position in shares of Pharvaris by 17.2% during the 2nd quarter. Legal & General Group Plc now owns 11,550 shares of the company’s stock worth $203,000 after purchasing an additional 1,695 shares during the last quarter. Amundi boosted its stake in Pharvaris by 2,741,600.0% during the 2nd quarter. Amundi now owns 27,417 shares of the company’s stock valued at $489,000 after purchasing an additional 27,416 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Pharvaris by 19.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,857 shares of the company’s stock valued at $860,000 after buying an additional 7,879 shares during 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.