Pharvaris (NASDAQ:PHVS) Releases Earnings Results, Misses Expectations By $0.05 EPS

Key Points

• Pharvaris reported a quarterly loss of $0.80 per share, missing analysts’ consensus estimate of a $0.75 loss by $0.05.
• Shares rose $0.22 to $34.64 in mid-day trading, near the company’s 52-week high of $36.60. Analysts maintained an overall “Moderate Buy” consensus, with an average price target of $50.08.
• Insiders sold 178,322 shares worth approximately $5.97 million during the last quarter, while several institutional investors—including Paradigm Biocapital and venBio Partners—expanded their positions.

Pharvaris (NASDAQ:PHVS - Get Free Report) posted its earnings results on Wednesday. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.05), FiscalAI reports.

Pharvaris Stock Performance

Shares of PHVS stock traded up $0.22 during mid-day trading on Wednesday, hitting $34.64. The company's stock had a trading volume of 575,409 shares, compared to its average volume of 305,670. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of -10.89 and a beta of -2.31. Pharvaris has a 52-week low of $20.65 and a 52-week high of $36.60. The business has a 50-day moving average price of $33.46 and a 200 day moving average price of $29.95.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wall Street Zen cut shares of Pharvaris from a "hold" rating to a "sell" rating in a report on Saturday, July 18th. Citizens Jmp decreased their price target 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. HC Wainwright reissued a "buy" rating on shares of Pharvaris in a research report on Tuesday, June 16th. Citigroup reissued a "buy" rating on shares of Pharvaris in a research note on Wednesday, April 15th. Finally, UBS Group set a $74.00 price objective on shares of Pharvaris in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Pharvaris currently has a consensus rating of "Moderate Buy" and an average price target of $50.08.

Insiders Place Their Bets

In other Pharvaris news, Director Elisabeth Bjork sold 10,000 shares of the business's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $29.32, for a total value of $293,200.00. Following the completion of the transaction, the director owned 15,167 shares of the company's stock, valued at approximately $444,696.44. The trade was a 39.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Glassman sold 10,000 shares of the company's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $29.82, for a total transaction of $298,200.00. Following the transaction, the director owned 10,500 shares in the company, valued at $313,110. This represents a 48.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 178,322 shares of company stock worth $5,969,286 in the last quarter.

Institutional Trading of Pharvaris

A number of hedge funds have recently bought and sold shares of PHVS. Wellington Management Group LLP bought a new position in shares of Pharvaris in the 3rd quarter worth approximately $43,282,000. Paradigm Biocapital Advisors LP increased its holdings in Pharvaris by 72.7% during the third quarter. Paradigm Biocapital Advisors LP now owns 1,835,494 shares of the company's stock valued at $45,796,000 after buying an additional 772,583 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in Pharvaris during the third quarter valued at approximately $15,613,000. Deerfield Management Company L.P. raised its position in Pharvaris by 21.1% in the third quarter. Deerfield Management Company L.P. now owns 2,442,464 shares of the company's stock worth $60,939,000 after acquiring an additional 425,000 shares during the period. Finally, venBio Partners LLC boosted its stake in shares of Pharvaris by 8.2% during the 3rd quarter. venBio Partners LLC now owns 4,639,304 shares of the company's stock worth $115,751,000 after acquiring an additional 350,000 shares during the last quarter.

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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