Pharvaris (NASDAQ:PHVS) Hits New 12-Month High - Time to Buy?

Key Points

• Share price hit a 52-week high — Pharvaris traded as high as $30.28 (last $29.83) on the day, up about 5.7% with a market cap near $1.95 billion.
• Analysts remain largely bullish — 11 Buys, 2 Holds and 1 Sell give a consensus "Moderate Buy" and a consensus target price of $42.73, with individual targets ranging up to $60.
• Fundamentals and insider activity raise caution — the company reported Q1 EPS of -$0.84 (missing estimates), analysts expect -3.19 EPS for the year, and insiders sold about 54,426 shares (~$1.58M) last quarter while holding 11.84% of shares.

Pharvaris N.V. (NASDAQ:PHVS - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $30.28 and last traded at $29.83, with a volume of 961470 shares trading hands. The stock had previously closed at $28.22.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Citigroup restated a "buy" rating on shares of Pharvaris in a report on Wednesday, April 15th. Wedbush boosted 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. Royal Bank Of Canada lowered their price objective on shares of Pharvaris from $52.00 to $51.00 and set an "outperform" rating for the company in a report on Monday, April 6th. HC Wainwright restated a "buy" rating and issued a $60.00 price objective on shares of Pharvaris in a report on Tuesday, March 3rd. Finally, Wolfe Research assumed coverage on shares of Pharvaris in a report on Thursday, April 9th. They issued an "outperform" rating and a $42.00 price objective for the company. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $42.73.

Pharvaris Trading Up 5.7%

The stock's fifty day moving average is $27.56 and its 200 day moving average is $26.00. The company has a market capitalization of $1.95 billion, a P/E ratio of -8.85 and a beta of -2.58.

Pharvaris (NASDAQ:PHVS - Get Free Report) last posted its quarterly earnings results on Friday, April 3rd. The company reported ($0.84) EPS for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.15). On average, analysts expect that Pharvaris N.V. will post -3.19 EPS for the current fiscal year.

Insider Activity

In related news, Director Johannes Gerardus Chri Schikan sold 7,000 shares of the company's stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $30.05, for a total transaction of $210,350.00. Following the completion of the sale, the director directly owned 388,167 shares in the company, valued at $11,664,418.35. This represents a 1.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Peng Lu sold 7,001 shares of the company's stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $30.05, for a total transaction of $210,380.05. Following the sale, the insider owned 66,083 shares of the company's stock, valued at $1,985,794.15. This represents a 9.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 54,426 shares of company stock valued at $1,578,273. 11.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pharvaris

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHVS. Wellington Management Group LLP bought a new stake in Pharvaris during the 3rd quarter valued at $43,282,000. Paradigm Biocapital Advisors LP increased its position in Pharvaris by 72.7% during the 3rd quarter. Paradigm Biocapital Advisors LP now owns 1,835,494 shares of the company's stock valued at $45,796,000 after purchasing an additional 772,583 shares during the period. Balyasny Asset Management L.P. purchased a new position in Pharvaris during the 3rd quarter valued at $15,613,000. Commodore Capital LP increased its position in Pharvaris by 26.5% during the 3rd quarter. Commodore Capital LP now owns 2,418,476 shares of the company's stock valued at $60,341,000 after purchasing an additional 507,043 shares during the period. Finally, General Atlantic L.P. increased its position in Pharvaris by 6.6% during the 3rd quarter. General Atlantic L.P. now owns 8,031,252 shares of the company's stock valued at $200,380,000 after purchasing an additional 500,000 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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