Pharvaris (NASDAQ:PHVS) Stock Jumps 7.4% – Time to Buy?

Pharvaris N.V. (NASDAQ:PHVS) shot up 7.4% during mid-day trading on Monday. The stock traded as high as $29.79 and last traded at $29.7880. 555,460 shares were traded during mid-day trading, an increase of 26% from the average daily volume of 439,233 shares. The stock had previously closed at $27.74.

Analyst Upgrades and Downgrades

PHVS has been the topic of a number of analyst reports. Wells Fargo & Company upped their price target on Pharvaris from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, September 9th. Wedbush raised their price objective on Pharvaris from $42.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 9th. Guggenheim raised their price objective on Pharvaris from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. New Street Research set a $60.00 price objective on Pharvaris in a research note on Friday, August 14th. Finally, HC Wainwright reiterated a “buy” rating on shares of Pharvaris in a report on Tuesday, October 6th. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Pharvaris currently has an average rating of “Moderate Buy” and an average price target of $58.60.

Pharvaris Trading Up 3.8%

The firm has a market cap of $2.02 billion, a price-to-earnings ratio of -10.13 and a beta of -2.46. The firm’s 50-day moving average is $34.24 and its 200-day moving average is $32.49.

Pharvaris (NASDAQ:PHVS) last released 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). Analysts forecast that Pharvaris N.V. will post -3.12 EPS for the current fiscal year.

Insider Activity at Pharvaris

In related news, Director Johannes Gerardus Chri Schikan sold 800 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $36.19, for a total value of $28,952.00. Following the transaction, the director owned 115,167 shares of the company’s stock, valued at approximately $4,167,893.73. This trade represents a 0.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Elisabeth Bjork sold 52,500 shares of Pharvaris stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $37.89, for a total value of $1,989,225.00. Following the transaction, the director owned 15,167 shares of the company’s stock, valued at $574,677.63. This trade represents a 77.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 513,102 shares of company stock valued at $18,643,666 over the last quarter.

Institutional Investors Weigh In On Pharvaris

Institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP bought a new position in shares of Pharvaris during the second quarter valued at about $41,000. CoreCap Advisors LLC purchased a new position in Pharvaris during the second quarter worth about $93,000. Amundi boosted its holdings in Pharvaris by 12.0% during the first quarter. Amundi now owns 30,952 shares of the company’s stock worth $874,000 after purchasing an additional 3,312 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Pharvaris in the 2nd quarter worth about $196,000. Finally, SummitTX Capital L.P. grew its position in Pharvaris by 27.7% in the 1st quarter. SummitTX Capital L.P. now owns 29,184 shares of the company’s stock worth $824,000 after purchasing an additional 6,325 shares in the last quarter.

Pharvaris Company Profile

Pharvaris N.V. (NASDAQ: PHVS) is a biopharmaceutical company focused on developing oral therapies for hereditary angioedema (HAE), a rare genetic disorder that causes recurrent episodes of swelling. The company was founded in 2015 by individuals with experience in HAE drug development and aims to provide convenient, non-injectable treatment options for patients.

Pharvaris’ lead investigational product is deucrictibant, an oral bradykinin B2 receptor antagonist designed for use both as an on-demand treatment for HAE attacks and as a preventive therapy.