Pharvaris (NASDAQ:PHVS) Shares Gap Down Following Insider Selling

Key Points

• Insider selling drove a price drop: Pharvaris shares gapped down from $30.04 to an open of $27.67 after Peng Lu sold 7,001 shares at $30.05 and CEO Berndt Modig sold 2,292 shares, with the stock last trading around $27.54.
• Analyst views are mixed but skew positive, with a consensus rating of Moderate Buy and an average target price of $42.73, while individual firms range from "strong sell" to "buy."
• Pharvaris is a clinical-stage biopharma developing oral HAE therapy PHA121, has a market cap of about $1.88 billion, and reported negative EPS (‑$0.84 last quarter; consensus -3.19 for the year).

Shares of Pharvaris N.V. (NASDAQ:PHVS - Get Free Report) gapped down before the market opened on Friday following insider selling activity. The stock had previously closed at $30.04, but opened at $27.67. Pharvaris shares last traded at $27.5410, with a volume of 6,950 shares trading hands.

Specifically, insider Peng Lu sold 7,001 shares of the company's stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $30.05, for a total value of $210,380.05. Following the transaction, the insider directly owned 66,083 shares in the company, valued at approximately $1,985,794.15. This represents a 9.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Berndt Modig sold 2,292 shares of the company's stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $28.60, for a total transaction of $65,551.20. Following the completion of the transaction, the chief executive officer owned 139,792 shares in the company, valued at approximately $3,998,051.20. The trade was a 1.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PHVS. Weiss Ratings restated a "sell (d-)" rating on shares of Pharvaris in a report on Tuesday. Wall Street Zen lowered shares of Pharvaris from a "sell" rating to a "strong sell" rating in a research note on Monday, April 13th. Royal Bank Of Canada dropped their target price on shares of Pharvaris from $52.00 to $51.00 and set an "outperform" rating on the stock in a report on Monday, April 6th. Citigroup reiterated a "buy" rating on shares of Pharvaris in a report on Wednesday, April 15th. Finally, HC Wainwright reiterated a "buy" rating and set a $60.00 target price on shares of Pharvaris in a report on Tuesday, March 3rd. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $42.73.

Pharvaris Stock Performance

The company's fifty day simple moving average is $27.39 and its 200-day simple moving average is $25.80. The company has a market capitalization of $1.88 billion, a P/E ratio of -8.50 and a beta of -2.58.

Pharvaris (NASDAQ:PHVS - Get Free Report) last issued its earnings results on Friday, April 3rd. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.15). On average, sell-side analysts predict that Pharvaris N.V. will post -3.19 EPS for the current year.

Institutional Trading of Pharvaris

Several hedge funds have recently modified their holdings of PHVS. Wellington Management Group LLP purchased a new stake in shares of Pharvaris during the third quarter valued at about $43,282,000. Paradigm Biocapital Advisors LP lifted its position in shares of 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 shares of Pharvaris during the third quarter valued at about $15,613,000. Commodore Capital LP lifted its position in shares of Pharvaris by 26.5% during the third quarter. Commodore Capital LP now owns 2,418,476 shares of the company's stock valued at $60,341,000 after buying an additional 507,043 shares during the last quarter. Finally, General Atlantic L.P. lifted its position in shares of Pharvaris by 6.6% during the third quarter. General Atlantic L.P. now owns 8,031,252 shares of the company's stock valued at $200,380,000 after buying an additional 500,000 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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