Pharvaris N.V. (NASDAQ:PHVS) Sees Large Decline in Short Interest

Key Points

• Pharvaris N.V. experienced a significant reduction in short interest, dropping by 45.6% in July, with a total of 446,000 shares reported as short by July 31st.
• Several institutional investors, including Soleus Capital Management and Octagon Capital Advisors, increased their positions in Pharvaris by up to 48.1% in the last quarter, indicating growing confidence in the company's stock.
• Pharvaris reported an EPS of ($0.94) for the last quarter, falling short of analysts' estimates, yet maintains an average buy rating among analysts with a consensus price target of $35.60.

Pharvaris N.V. (NASDAQ:PHVS - Get Free Report) saw a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 446,000 shares, adecreaseof45.6% from the July 15th total of 819,700 shares. Approximately2.0% of the shares of the company are sold short. Based on an average daily volume of 103,100 shares, the days-to-cover ratio is presently 4.3 days. Based on an average daily volume of 103,100 shares, the days-to-cover ratio is presently 4.3 days. Approximately2.0% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PHVS shares. Zacks Research raised shares of Pharvaris from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Cantor Fitzgerald dropped their target price on shares of Pharvaris from $28.00 to $25.00 and set an "overweight" rating on the stock in a report on Wednesday, May 14th. Guggenheim started coverage on shares of Pharvaris in a report on Wednesday, June 11th. They issued a "buy" rating and a $32.00 target price on the stock. Wedbush reaffirmed an "outperform" rating and issued a $27.00 target price on shares of Pharvaris in a report on Thursday, June 5th. Finally, JMP Securities dropped their target price on shares of Pharvaris from $55.00 to $52.00 and set a "market outperform" rating on the stock in a report on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $35.60.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PHVS. JPMorgan Chase & Co. grew its position in shares of Pharvaris by 1,125.3% during the 4th quarter. JPMorgan Chase & Co. now owns 3,100 shares of the company's stock worth $59,000 after purchasing an additional 2,847 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Pharvaris by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 38,333 shares of the company's stock worth $735,000 after purchasing an additional 1,356 shares in the last quarter. Legal & General Group Plc grew its position in shares of Pharvaris by 11.2% during the 4th quarter. Legal & General Group Plc now owns 9,855 shares of the company's stock worth $189,000 after purchasing an additional 994 shares in the last quarter. Rock Springs Capital Management LP grew its position in shares of Pharvaris by 2.4% during the 4th quarter. Rock Springs Capital Management LP now owns 775,131 shares of the company's stock worth $14,859,000 after purchasing an additional 18,200 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Pharvaris by 36.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 443,896 shares of the company's stock worth $8,510,000 after purchasing an additional 118,408 shares in the last quarter.

Pharvaris Stock Performance

PHVS traded down $0.23 on Friday, reaching $23.12. The company had a trading volume of 53,502 shares, compared to its average volume of 142,735. The company's fifty day moving average is $20.27 and its 200 day moving average is $17.43. Pharvaris has a fifty-two week low of $11.51 and a fifty-two week high of $26.33. The stock has a market cap of $1.21 billion, a P/E ratio of -6.88 and a beta of -2.81.

Pharvaris (NASDAQ:PHVS - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.87) by ($0.07). On average, sell-side analysts expect that Pharvaris will post -2.71 EPS for the current year.

Pharvaris Company Profile

Pharvaris N.V., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapies for rare diseases. The company develops PHA121, a small molecule bradykinin B2-receptor antagonist for the treatment of hereditary angioedema (HAE). It also develops PHVS416, an on-demand, rapid exposure soft capsule for patients suffering from acute HAE attacks which is under Phase 2 clinical trial; and PHVS719, a prophylactic extended-release tablet for HAE patients which is under Phase 1 clinical trial.