Bank of America Corp DE Makes New Investment in Pharvaris N.V. $PHVS

Key Points

• Bank of America initiated a Pharvaris position in the second quarter, buying 138,810 shares valued at approximately $4.8 million, or about 0.21% of the company.
• Analyst sentiment is broadly positive: 13 analysts rate PHVS a Buy, with a consensus “Moderate Buy” rating and an average price target of $59.87. Target increases included Leerink Partners raising its target to $65 and UBS setting a $79 target.
• Pharvaris reported a quarterly loss of $0.81 per share, worse than the $0.75 consensus estimate, while insiders sold 513,102 shares worth approximately $18.6 million during the last quarter.

Bank of America Corp DE bought a new position in Pharvaris N.V. (NASDAQ:PHVS - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 138,810 shares of the company's stock, valued at approximately $4,800,000. Bank of America Corp DE owned approximately 0.21% of Pharvaris as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Elmind Capital LP bought a new stake in Pharvaris in the 2nd quarter worth approximately $18,180,435. 5AM Venture Management LLC bought a new position in Pharvaris during the second quarter valued at approximately $27,581,008. ADAR1 Capital Management LLC purchased a new position in shares of Pharvaris during the second quarter worth approximately $3,649,000. Legal & General Group Plc bought a new stake in shares of Pharvaris in the 2nd quarter worth approximately $713,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Pharvaris in the 2nd quarter worth approximately $818,000.

Analyst Ratings Changes

Several equities analysts recently commented on PHVS shares. Leerink Partners increased their target price on shares of Pharvaris from $50.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, September 9th. UBS Group set a $79.00 price target on shares of Pharvaris in a research report on Wednesday, September 9th. Wall Street Zen cut Pharvaris from a "hold" rating to a "sell" rating in a research note on Saturday, July 18th. HSBC upgraded shares of Pharvaris to an "overweight" rating in a report on Thursday, August 13th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $60.00 target price on shares of Pharvaris in a research note on Tuesday, September 8th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $59.87.

Pharvaris Price Performance

Shares of Pharvaris stock opened at $31.91 on Tuesday. Pharvaris N.V. has a 1 year low of $20.65 and a 1 year high of $43.25. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -10.46 and a beta of -2.33. The company has a 50-day moving average of $35.26 and a 200 day moving average of $32.06.

Pharvaris (NASDAQ:PHVS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.06). On average, equities analysts anticipate that Pharvaris N.V. will post -3.12 EPS for the current year.

Insider Transactions at Pharvaris

In other Pharvaris news, Director Johannes Gerardus Chri Schikan sold 200,000 shares of the stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $35.00, for a total value of $7,000,000.00. Following the transaction, the director directly owned 115,167 shares in the company, valued at approximately $4,030,845. This trade represents a 63.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elisabeth Bjork sold 52,500 shares of Pharvaris stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $37.89, for a total transaction of $1,989,225.00. Following the transaction, the director owned 15,167 shares in the company, valued at $574,677.63. This represents a 77.59% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 513,102 shares of company stock valued at $18,643,666.

Pharvaris Profile

Pharvaris N.V. is a biopharmaceutical company focused on developing oral therapies for hereditary angioedema (HAE), a rare genetic disorder characterized by recurrent episodes of swelling. The company is headquartered in Zug, Switzerland, and was founded in 2015 by former executives from Pharming Group.

Pharvaris' lead investigational medicine is deucrictibant, an orally administered small-molecule bradykinin B2 receptor antagonist. The company is evaluating different formulations of deucrictibant for both on-demand treatment of HAE attacks and long-term prevention of attacks.

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