Octagon Capital Advisors LP Has $4.66 Million Holdings in Pharvaris N.V. $PHVS

Key Points

• Octagon Capital Advisors cut its Pharvaris stake by 75.4% in the first quarter, selling 506,465 shares and retaining 165,000 shares valued at approximately $4.66 million.
• Pharvaris shares opened at $34.17, near their 52-week high of $36.60. The company reported a quarterly loss of $0.70 per share, beating analysts’ expected loss of $0.82.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and average price target of $50.08, although insiders sold 274,555 shares worth $8.88 million over the past three months.

Octagon Capital Advisors LP lessened its position in shares of Pharvaris N.V. (NASDAQ:PHVS - Free Report) by 75.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,000 shares of the company's stock after selling 506,465 shares during the period. Pharvaris comprises 0.5% of Octagon Capital Advisors LP's holdings, making the stock its 26th largest position. Octagon Capital Advisors LP owned approximately 0.25% of Pharvaris worth $4,661,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. California State Teachers Retirement System boosted its position in shares of Pharvaris by 2.2% during the fourth quarter. California State Teachers Retirement System now owns 23,982 shares of the company's stock worth $666,000 after buying an additional 520 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Pharvaris by 30.6% during the second quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company's stock worth $59,000 after buying an additional 783 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in Pharvaris in the 4th quarter valued at approximately $35,000. Public Employees Retirement System of Ohio raised its position in Pharvaris by 20.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 7,569 shares of the company's stock valued at $210,000 after buying an additional 1,300 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Pharvaris by 17.2% in the 2nd quarter. Legal & General Group Plc now owns 11,550 shares of the company's stock valued at $203,000 after acquiring an additional 1,695 shares in the last quarter.

Pharvaris Stock Performance

Pharvaris stock opened at $34.17 on Monday. Pharvaris N.V. has a 52 week low of $19.12 and a 52 week high of $36.60. The stock has a market capitalization of $2.24 billion, a P/E ratio of -10.75 and a beta of -2.34. The stock has a 50-day simple moving average of $32.45 and a 200 day simple moving average of $29.27.

Pharvaris (NASDAQ:PHVS - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.82) by $0.12. Research analysts forecast that Pharvaris N.V. will post -2.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PHVS has been the subject of several research reports. Royal Bank Of Canada decreased their price target on shares of Pharvaris from $52.00 to $51.00 and set an "outperform" rating for the company in a research note on Monday, April 6th. Morgan Stanley boosted their price objective on shares of Pharvaris from $41.00 to $46.00 and gave the stock an "overweight" rating in a research report on Thursday, June 25th. Weiss Ratings restated a "sell (d-)" rating on shares of Pharvaris in a report on Friday, July 17th. Wells Fargo & Company assumed coverage on shares of Pharvaris in a research report on Wednesday, July 15th. They issued an "overweight" rating and a $55.00 target price for the company. Finally, Wolfe Research started coverage on shares of Pharvaris in a research note on Thursday, April 9th. They issued an "outperform" rating and a $42.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $50.08.

Insider Buying and Selling at Pharvaris

In related news, Director Elisabeth Bjork sold 10,000 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $29.32, for a total value of $293,200.00. Following the sale, the director owned 15,167 shares in the company, valued at approximately $444,696.44. This represents a 39.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anne Lesage sold 30,703 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $35.49, for a total value of $1,089,649.47. Following the completion of the sale, the insider owned 93,969 shares in the company, valued at approximately $3,334,959.81. This trade represents a 24.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 274,555 shares of company stock worth $8,880,601 in the last three months.

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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