Pharvaris (NASDAQ:PHVS) Sees Large Volume Increase - Here's Why

Key Points

• Pharvaris shares surged on heavy volume, with 724,674 shares traded intraday, up 162% from the prior session, while the stock was little changed around $36.17.
• Analyst sentiment remains mostly positive overall: the stock carries a Moderate Buy rating with an average price target of $49.64, though opinions vary from buy to sell.
• The company reported a smaller-than-expected quarterly loss of $0.70 per share versus the $0.82 consensus, but insiders have recently sold shares, including CEO Berndt Modig and insider Anne Lesage.

Pharvaris N.V. (NASDAQ:PHVS - Get Free Report) shares saw unusually-strong trading volume on Thursday . 724,674 shares traded hands during mid-day trading, an increase of 162% from the previous session's volume of 276,677 shares.The stock last traded at $36.1690 and had previously closed at $35.92.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Citigroup reaffirmed a "buy" rating on shares of Pharvaris in a report on Wednesday, April 15th. Weiss Ratings reissued a "sell (d-)" rating on shares of Pharvaris in a report on Tuesday, April 21st. Wall Street Zen upgraded Pharvaris from a "sell" rating to a "hold" rating in a research report on Saturday, June 6th. UBS Group set a $74.00 price objective on Pharvaris in a research note on Wednesday, May 13th. Finally, Wolfe Research initiated coverage on Pharvaris in a research report on Thursday, April 9th. They set an "outperform" rating and a $42.00 price objective for the company. Ten 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $49.64.

Pharvaris Stock Performance

The company has a market cap of $2.35 billion, a PE ratio of -11.28 and a beta of -2.34. The stock's 50-day simple moving average is $31.45 and its 200 day simple moving average is $28.57.

Pharvaris (NASDAQ:PHVS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.82) by $0.12. On average, sell-side analysts predict that Pharvaris N.V. will post -3.2 EPS for the current fiscal year.

Insider Buying and Selling at Pharvaris

In related news, CEO Berndt Modig sold 2,291 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $31.07, for a total value of $71,181.37. Following the sale, the chief executive officer directly owned 135,209 shares of the company's stock, valued at approximately $4,200,943.63. This represents a 1.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anne Lesage sold 27,872 shares of the firm's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $35.48, for a total transaction of $988,898.56. Following the transaction, the insider owned 58,750 shares of the company's stock, valued at $2,084,450. This trade represents a 32.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 305,648 shares of company stock worth $9,811,616. Corporate insiders own 11.84% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. California State Teachers Retirement System lifted its position in Pharvaris by 2.2% during the fourth quarter. California State Teachers Retirement System now owns 23,982 shares of the company's stock valued at $666,000 after buying an additional 520 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Pharvaris by 30.6% in the second quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company's stock worth $59,000 after acquiring an additional 783 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Pharvaris in the 4th quarter valued at $35,000. Public Employees Retirement System of Ohio lifted its holdings in shares of 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 acquiring an additional 1,300 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Pharvaris by 17.2% during the 2nd quarter. Legal & General Group Plc now owns 11,550 shares of the company's stock valued at $203,000 after acquiring an additional 1,695 shares in the last quarter.

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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