Commodore Capital LP Sells 529,031 Shares of Pharvaris N.V. $PHVS

Key Points

• Commodore Capital LP reduced its Pharvaris stake by 21.9% in the fourth quarter, selling 529,031 shares and leaving it with 1.89 million shares valued at about $52.4 million.
• Several other institutions also adjusted their holdings, while Wall Street sentiment remains constructive: Pharvaris has an average rating of Moderate Buy and an average price target of $49.18.
• The company’s stock was trading up, opening at $33.41, and Pharvaris recently reported a smaller-than-expected quarterly loss of ($0.70) EPS versus the expected ($0.82).

Commodore Capital LP cut its stake in shares of Pharvaris N.V. (NASDAQ:PHVS - Free Report) by 21.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,889,445 shares of the company's stock after selling 529,031 shares during the period. Pharvaris comprises approximately 3.5% of Commodore Capital LP's investment portfolio, making the stock its 15th largest holding. Commodore Capital LP's holdings in Pharvaris were worth $52,432,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of Pharvaris by 41.1% during the second quarter. Geode Capital Management LLC now owns 54,102 shares of the company's stock valued at $952,000 after purchasing an additional 15,769 shares in the last quarter. JPMorgan Chase & Co. grew its position in Pharvaris by 30.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company's stock worth $59,000 after purchasing an additional 783 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Pharvaris by 17.2% during the 2nd quarter. Legal & General Group Plc now owns 11,550 shares of the company's stock worth $203,000 after buying an additional 1,695 shares in the last quarter. Amundi lifted its position in shares of Pharvaris by 2,741,600.0% during the 2nd quarter. Amundi now owns 27,417 shares of the company's stock worth $489,000 after buying an additional 27,416 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Pharvaris by 19.2% during the second quarter. The Manufacturers Life Insurance Company now owns 48,857 shares of the company's stock valued at $860,000 after acquiring an additional 7,879 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Citigroup reissued a "buy" rating on shares of Pharvaris in a research report on Wednesday, April 15th. Royal Bank Of Canada lowered their target price on Pharvaris from $52.00 to $51.00 and set an "outperform" rating on the stock in a research note on Monday, April 6th. Wolfe Research assumed coverage on shares of Pharvaris in a research report on Thursday, April 9th. They set an "outperform" rating and a $42.00 price target for the company. Wedbush raised their price objective on shares of Pharvaris from $41.00 to $42.00 and gave the stock an "outperform" rating in a report on Tuesday, April 7th. Finally, Wall Street Zen upgraded shares of Pharvaris from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $49.18.

Insider Buying and Selling at Pharvaris

In other news, Director Robert Glassman sold 10,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $29.82, for a total value of $298,200.00. Following the sale, the director directly owned 10,500 shares of the company's stock, valued at approximately $313,110. This represents a 48.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Berndt Modig sold 23,333 shares of the business's stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $27.74, for a total transaction of $647,257.42. Following the transaction, the chief executive officer directly owned 142,084 shares of the company's stock, valued at approximately $3,941,410.16. This represents a 14.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 214,909 shares of company stock worth $6,421,745. 11.84% of the stock is owned by corporate insiders.

Pharvaris Trading Up 6.2%

PHVS opened at $33.41 on Thursday. Pharvaris N.V. has a 12 month low of $16.00 and a 12 month high of $33.50. The company has a market cap of $2.19 billion, a PE ratio of -10.51 and a beta of -2.35. The company has a 50 day moving average of $29.81 and a 200 day moving average of $27.67.

Pharvaris (NASDAQ:PHVS - Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.82) by $0.12. Research analysts forecast that Pharvaris N.V. will post -3.22 earnings per share for the current fiscal year.

Pharvaris Profile

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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