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

Shares of Pharvaris N.V. (NASDAQ:PHVS) saw strong trading volume on Wednesday . Approximately 487,339 shares were traded during trading, an increase of 60% from the previous session’s volume of 303,990 shares.The stock last traded at $34.48 and had previously closed at $34.42.

Analysts Set New Price Targets

PHVS has been the subject of several analyst reports. Royal Bank Of Canada increased their price objective on shares of Pharvaris from $51.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pharvaris in a report on Friday, July 17th. Morgan Stanley increased their price target on Pharvaris from $41.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. HC Wainwright reissued a “buy” rating on shares of Pharvaris in a research report on Friday. Finally, Guggenheim upped their price objective on Pharvaris from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.33.

Pharvaris Price Performance

The stock has a market capitalization of $2.23 billion, a PE ratio of -11.16 and a beta of -2.31. The stock’s 50 day simple moving average is $33.63 and its two-hundred day simple moving average is $30.06.

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

Insiders Place Their Bets

In other news, insider Anne Lesage sold 27,872 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $35.48, for a total transaction of $988,898.56. Following the transaction, the insider owned 58,750 shares of the company’s stock, valued at $2,084,450. This represents a 32.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Berndt Modig sold 2,291 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $31.07, for a total value of $71,181.37. Following the transaction, the chief executive officer owned 135,209 shares of the company’s stock, valued at $4,200,943.63. The trade was a 1.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 158,322 shares of company stock valued at $5,371,886. Company insiders own 11.84% of the company’s stock.

Hedge Funds Weigh In On Pharvaris

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. bought a new stake in shares of Pharvaris in the fourth quarter valued at approximately $35,000. Quantbot Technologies LP bought a new stake in Pharvaris during the 2nd quarter valued at $41,000. JPMorgan Chase & Co. lifted its position in shares of Pharvaris by 30.6% during the second quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company’s stock worth $59,000 after acquiring an additional 783 shares in the last quarter. Barclays PLC purchased a new position in shares of Pharvaris in the fourth quarter valued at $77,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Pharvaris during the 4th quarter valued at $86,000.

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.