BlackRock Inc. Makes New Investment in Pharvaris N.V. $PHVS

Key Points

• BlackRock acquired 771,454 Pharvaris shares during the second quarter, worth approximately $26.7 million and representing about 1.18% of the company. Several other institutional investors also initiated or increased positions.
• Pharvaris shares opened at $35.17, up 0.7%, while the company reported a quarterly loss of $0.81 per share, missing analyst expectations by $0.06.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $51.08; however, insiders sold 118,655 shares worth roughly $4.2 million over the past 90 days.

BlackRock Inc. purchased a new stake in shares of Pharvaris N.V. (NASDAQ:PHVS - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 771,454 shares of the company's stock, valued at approximately $26,677,000. BlackRock Inc. owned about 1.18% of Pharvaris at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PHVS. Deutsche Bank AG bought a new stake in shares of Pharvaris in the 2nd quarter worth approximately $1,849,000. Persistent Asset Partners Ltd bought a new position in shares of Pharvaris during the 2nd quarter valued at $273,000. GSA Capital Partners LLP purchased a new position in Pharvaris in the 2nd quarter worth $558,000. CoreCap Advisors LLC purchased a new position in Pharvaris in the 2nd quarter worth $93,000. Finally, Seven Fleet Capital Management LP raised its position in Pharvaris by 472.3% in the 1st quarter. Seven Fleet Capital Management LP now owns 316,697 shares of the company's stock worth $8,947,000 after purchasing an additional 261,355 shares during the period.

Pharvaris Stock Up 0.7%

Shares of PHVS opened at $35.17 on Thursday. The stock has a market capitalization of $2.30 billion, a P/E ratio of -11.53 and a beta of -2.33. The firm has a fifty day simple moving average of $34.71 and a two-hundred day simple moving average of $30.94. Pharvaris N.V. has a twelve month low of $20.65 and a twelve month high of $38.13.

Pharvaris (NASDAQ:PHVS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.06). Sell-side analysts expect that Pharvaris N.V. will post -3.15 EPS for the current fiscal year.

Insider Buying and Selling

In other Pharvaris news, CEO Berndt Modig sold 2,292 shares of the company's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $34.77, for a total transaction of $79,692.84. Following the completion of the transaction, the chief executive officer 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Johannes Gerardus Chri Schikan sold 30,712 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $35.49, for a total value of $1,089,968.88. Following the completion of the sale, the director owned 315,167 shares of the company's stock, valued at approximately $11,185,276.83. This trade represents a 8.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 118,655 shares of company stock valued at $4,188,002 over the last ninety days. 11.84% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. UBS Group set a $74.00 price target on shares of Pharvaris in a research report on Wednesday, May 13th. Morgan Stanley boosted their target price on Pharvaris from $41.00 to $46.00 and gave the company an "overweight" rating in a research note on Thursday, June 25th. HC Wainwright restated a "buy" rating on shares of Pharvaris in a report on Friday, August 14th. New Street Research set a $60.00 price target on Pharvaris in a research report on Friday, August 14th. Finally, HSBC upgraded Pharvaris to an "overweight" rating in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $51.08.

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.

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