Pharvaris (NASDAQ:PHVS) CEO Berndt Modig Sells 23,333 Shares

Key Points

• Pharvaris CEO Berndt Modig sold 23,333 shares at an average price of $27.74 on April 9 for about $647,257, reducing his stake by 14.11% to 142,084 shares; the sale was executed under a pre-arranged Rule 10b5-1 trading plan and disclosed to the SEC.
• Shares traded down 1.8% to $26.59 on the day (volume 73,579 vs. avg. 170,118) while analysts remain mixed but generally positive, with a MarketBeat consensus rating of “Moderate Buy” and a consensus target of $42.73 amid a $1.74 billion market cap.

Pharvaris N.V. (NASDAQ:PHVS - Get Free Report) CEO Berndt Modig sold 23,333 shares of the firm's stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $27.74, for a total transaction of $647,257.42. Following the completion of the sale, the chief executive officer owned 142,084 shares of the company's stock, valued at $3,941,410.16. This trade represents a 14.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pharvaris Trading Down 1.8%

Shares of NASDAQ:PHVS traded down $0.48 on Friday, reaching $26.59. 73,579 shares of the company were exchanged, compared to its average volume of 170,118. The company has a 50-day moving average of $27.06 and a 200-day moving average of $25.51. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -7.93 and a beta of -2.58. Pharvaris N.V. has a 1-year low of $11.66 and a 1-year high of $29.85.

Analyst Upgrades and Downgrades

Several research analysts have commented on PHVS shares. HC Wainwright reissued a "buy" rating and issued a $60.00 price objective on shares of Pharvaris in a research report on Tuesday, March 3rd. Royal Bank Of Canada lowered their target price on Pharvaris from $52.00 to $51.00 and set an "outperform" rating for the company in a research note on Monday. Wolfe Research assumed coverage on Pharvaris in a research report on Thursday. They set an "outperform" rating and a $42.00 price target on the stock. Wall Street Zen downgraded shares of Pharvaris from a "hold" rating to a "sell" rating in a research report on Sunday, April 5th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Pharvaris in a research report on Thursday, January 22nd. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.73.

Institutional Trading of Pharvaris

Several hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System raised its stake in 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 acquiring an additional 520 shares during the period. JPMorgan Chase & Co. raised its position in shares of Pharvaris by 30.6% during 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 during the period. HighVista Strategies LLC lifted its holdings in shares of Pharvaris by 4.3% in the 2nd quarter. HighVista Strategies LLC now owns 23,739 shares of the company's stock worth $418,000 after purchasing an additional 971 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Pharvaris in the 4th quarter worth approximately $35,000. Finally, Public Employees Retirement System of Ohio boosted its position in Pharvaris by 20.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 7,569 shares of the company's stock valued at $210,000 after purchasing an additional 1,300 shares during the period.

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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