Alyeska Investment Group L.P. Purchases 281,829 Shares of Pharvaris N.V. $PHVS

Key Points

• Alyeska Investment Group increased its Pharvaris stake by 225.5%, purchasing 281,829 additional shares and ending the quarter with 406,829 shares worth approximately $14.1 million.
• Analyst sentiment remains broadly positive: Pharvaris has a consensus rating of “Moderate Buy” and an average price target of $51.08, despite ratings ranging from Sell to Strong Buy.
• Pharvaris shares opened at $34.61 after declining 2%, while the company reported a quarterly loss of $0.81 per share, missing estimates by $0.06. Insiders have also sold 121,325 shares worth about $4.3 million over the past 90 days.

Alyeska Investment Group L.P. increased its position in shares of Pharvaris N.V. (NASDAQ:PHVS - Free Report) by 225.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 406,829 shares of the company's stock after purchasing an additional 281,829 shares during the period. Alyeska Investment Group L.P. owned approximately 0.62% of Pharvaris worth $14,068,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. venBio Partners LLC purchased a new stake in shares of Pharvaris in the second quarter worth approximately $160,569,809. Deerfield Management Company L.P. boosted its holdings in Pharvaris by 21.1% during the 3rd quarter. Deerfield Management Company L.P. now owns 2,442,464 shares of the company's stock valued at $60,939,000 after acquiring an additional 425,000 shares during the period. Wellington Management Group LLP boosted its holdings in Pharvaris by 12.9% during the 2nd quarter. Wellington Management Group LLP now owns 2,392,934 shares of the company's stock valued at $82,748,000 after acquiring an additional 274,034 shares during the period. Commodore Capital LP grew its position in Pharvaris by 1.6% in the 1st quarter. Commodore Capital LP now owns 1,918,970 shares of the company's stock valued at $54,211,000 after acquiring an additional 29,525 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP grew its position in Pharvaris by 72.7% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 1,835,494 shares of the company's stock valued at $45,796,000 after acquiring an additional 772,583 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have recently issued reports on PHVS shares. Guggenheim boosted their target price on shares of Pharvaris from $39.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Pharvaris in a report on Friday, July 17th. HC Wainwright reissued a "buy" rating on shares of Pharvaris in a research report on Friday, August 14th. New Street Research set a $60.00 price objective on shares of Pharvaris in a research report on Friday, August 14th. Finally, HSBC upgraded shares of Pharvaris to an "overweight" rating in a research note on Thursday, August 13th. One investment 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 given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $51.08.

Pharvaris Stock Down 2.0%

Shares of PHVS stock opened at $34.61 on Tuesday. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of -11.35 and a beta of -2.31. The company's 50 day moving average is $34.64 and its 200 day moving average is $30.82. Pharvaris N.V. has a 52-week low of $20.65 and a 52-week high of $38.13.

Pharvaris (NASDAQ:PHVS - Get Free Report) last announced its earnings results 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 anticipate that Pharvaris N.V. will post -3.15 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Berndt Modig sold 2,292 shares of the company's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $34.77, for a total transaction of $79,692.84. Following the transaction, the chief executive officer directly owned 130,625 shares of the company's stock, valued at $4,541,831.25. This represents a 1.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Johannes Gerardus Chri Schikan sold 30,712 shares of the company's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $35.49, for a total value of $1,089,968.88. Following the transaction, the director directly owned 315,167 shares in the company, valued at $11,185,276.83. This represents a 8.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 121,325 shares of company stock valued at $4,270,425 in the last 90 days.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source