Pharvaris (NASDAQ:PHVS) CFO Sells $218,820.00 in Stock

Key Points

• CFO David Nassif sold 6,000 Pharvaris shares at an average price of $36.47, generating $218,820 and reducing his ownership by 4.99% to 114,300 shares.
• Pharvaris shares fell 4.1% to $33.77 during mid-day trading, while the company’s latest quarterly loss of $0.81 per share missed analyst expectations of $0.75.
• Analyst sentiment remains broadly positive, with 13 Buy ratings and a consensus price target of $59.87; several firms recently raised their targets, including Morgan Stanley to $62.

Pharvaris N.V. (NASDAQ:PHVS - Get Free Report) CFO David Nassif sold 6,000 shares of the firm's stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $36.47, for a total transaction of $218,820.00. Following the completion of the sale, the chief financial officer owned 114,300 shares of the company's stock, valued at $4,168,521. This trade represents a 4.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Pharvaris Trading Down 4.1%

Shares of PHVS traded down $1.43 during mid-day trading on Wednesday, reaching $33.77. The company's stock had a trading volume of 148,429 shares, compared to its average volume of 411,839. Pharvaris N.V. has a 1-year low of $20.65 and a 1-year high of $43.25. The business has a 50-day simple moving average of $35.41 and a two-hundred day simple moving average of $31.88. The stock has a market cap of $2.21 billion, a P/E ratio of -11.06 and a beta of -2.33.

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

Institutional Trading of Pharvaris

Hedge funds and other institutional investors have recently modified their holdings of the stock. Engineers Gate Manager LP acquired a new position in shares of Pharvaris in the second quarter valued at approximately $1,143,000. Amundi boosted its position in Pharvaris by 61.4% during the 2nd quarter. Amundi now owns 49,944 shares of the company's stock worth $1,727,000 after buying an additional 18,992 shares during the period. Moore Capital Management LP acquired a new stake in Pharvaris during the 2nd quarter worth approximately $1,522,000. Alyeska Investment Group L.P. grew its holdings in Pharvaris by 225.5% during the 2nd quarter. Alyeska Investment Group L.P. now owns 406,829 shares of the company's stock worth $14,068,000 after acquiring an additional 281,829 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Pharvaris by 12.9% during the 2nd quarter. Wellington Management Group LLP now owns 2,392,934 shares of the company's stock worth $82,748,000 after acquiring an additional 274,034 shares during the last quarter.

Analyst Ratings Changes

Several research firms recently commented on PHVS. Wedbush upped their price target on shares of Pharvaris from $42.00 to $50.00 and gave the company an "outperform" rating in a research note on Wednesday, September 9th. Morgan Stanley boosted their target price on shares of Pharvaris from $46.00 to $62.00 and gave the company an "overweight" rating in a research report on Wednesday, September 9th. New Street Research set a $60.00 price target on shares of Pharvaris in a report on Friday, August 14th. Guggenheim increased their price target on shares of Pharvaris from $40.00 to $44.00 and gave the stock a "buy" rating in a research report on Thursday, September 10th. Finally, Wall Street Zen cut shares of Pharvaris from a "hold" rating to a "sell" rating in a research note on Saturday, July 18th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Pharvaris presently has an average rating of "Moderate Buy" and a consensus target price of $59.87.

Pharvaris Company 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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