Pharvaris N.V. $PHVS Shares Sold by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company cut its Pharvaris stake by 44.7% in the first quarter, selling 35,695 shares and retaining 44,195 shares valued at approximately $1.25 million.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $50.08; recent targets range from $46 to $74.
• Pharvaris insiders sold 178,322 shares worth roughly $5.97 million over the past 90 days, while the stock recently traded at $34.42. The clinical-stage biopharmaceutical company is developing oral therapies for hereditary angioedema, led by its PHA121 program.

The Manufacturers Life Insurance Company reduced its stake in Pharvaris N.V. (NASDAQ:PHVS - Free Report) by 44.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 44,195 shares of the company's stock after selling 35,695 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of Pharvaris worth $1,249,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PHVS. GF Fund Management CO. LTD. purchased a new stake in Pharvaris in the fourth quarter valued at approximately $35,000. Barclays PLC acquired a new stake in shares of Pharvaris in the fourth quarter valued at $77,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Pharvaris in the 4th quarter valued at $86,000. JPMorgan Chase & Co. raised its holdings in shares of Pharvaris by 30.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company's stock valued at $59,000 after buying an additional 783 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Pharvaris during the 4th quarter worth about $110,000.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PHVS shares. Morgan Stanley lifted their target price on Pharvaris from $41.00 to $46.00 and gave the company an "overweight" rating in a research report on Thursday, June 25th. Citizens Jmp lowered their price objective on shares of Pharvaris from $75.00 to $74.00 and set a "market outperform" rating for the company in a research note on Wednesday, May 13th. UBS Group set a $74.00 price objective on shares of Pharvaris in a report on Wednesday, May 13th. Wells Fargo & Company initiated coverage on shares of Pharvaris in a report on Wednesday, July 15th. They set an "overweight" rating and a $55.00 target price on the stock. Finally, HC Wainwright reissued a "buy" rating on shares of Pharvaris in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $50.08.

Insider Activity at Pharvaris

In other news, Director Robert Glassman sold 10,000 shares of Pharvaris stock in a transaction on Friday, May 15th. The shares were sold at an average price of $29.82, for a total transaction of $298,200.00. Following the completion of the sale, the director directly owned 10,500 shares of the company's stock, valued at approximately $313,110. The trade was a 48.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anne Lesage sold 30,703 shares of the business's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $35.49, for a total transaction of $1,089,649.47. Following the transaction, the insider owned 93,969 shares of the company's stock, valued at approximately $3,334,959.81. The trade was a 24.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 178,322 shares of company stock worth $5,969,286 over the last ninety days.

Pharvaris Stock Performance

Shares of PHVS opened at $34.42 on Wednesday. Pharvaris N.V. has a 1 year low of $20.36 and a 1 year high of $36.60. The stock has a market capitalization of $2.25 billion, a PE ratio of -10.82 and a beta of -2.31. The stock has a 50-day simple moving average of $33.46 and a 200-day simple moving average of $29.95.

Pharvaris (NASDAQ:PHVS - Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported ($0.70) earnings per share for the quarter, topping analysts' consensus estimates of ($0.82) by $0.12. Analysts predict that Pharvaris N.V. will post -2.97 EPS for the current year.

Pharvaris Company 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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