Pharvaris (NASDAQ:PHVS) Sees Strong Trading Volume - What's Next?

Key Points

• Pharvaris shares traded heavily, with volume rising 23% to about 404,451 shares; the stock slipped 1.3% to approximately $36.97.
• Analyst sentiment remains broadly positive: the stock has a “Moderate Buy” consensus rating and a $51.08 average price target, despite two sell ratings and a recent quarterly EPS miss.
• Insiders have been net sellers, with company insiders selling 121,325 shares worth about $4.27 million over the past three months, while several institutions initiated or increased positions.

Pharvaris N.V. (NASDAQ:PHVS - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 404,451 shares were traded during trading, an increase of 23% from the previous session's volume of 328,590 shares.The stock last traded at $36.9690 and had previously closed at $37.31.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PHVS. Royal Bank Of Canada upped their price objective on Pharvaris from $51.00 to $52.00 and gave the stock an "outperform" rating in a research note on Thursday, August 13th. New Street Research set a $60.00 target price on shares of Pharvaris in a research note on Friday, August 14th. Citizens Jmp lifted their price target on shares of Pharvaris from $74.00 to $75.00 and gave the company a "market outperform" rating in a report on Thursday, August 13th. Wall Street Zen cut shares of Pharvaris from a "hold" rating to a "sell" rating in a research note on Saturday, July 18th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Pharvaris in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $51.08.

Pharvaris Trading Down 1.3%

The business's 50 day simple moving average is $34.28 and its 200 day simple moving average is $30.48. The firm has a market capitalization of $2.41 billion, a PE ratio of -12.08 and a beta of -2.31.

Pharvaris (NASDAQ:PHVS - Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.06). Analysts forecast that Pharvaris N.V. will post -3.15 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Berndt Modig sold 2,292 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $34.77, for a total value of $79,692.84. Following the completion of the sale, the chief executive officer directly owned 130,625 shares of the company's stock, valued at $4,541,831.25. This trade represents a 1.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Johannes Gerardus Chri Schikan sold 30,712 shares of Pharvaris stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $35.49, for a total value of $1,089,968.88. Following the completion of the transaction, the director owned 315,167 shares of the company's stock, valued at approximately $11,185,276.83. This trade represents a 8.88% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 121,325 shares of company stock valued at $4,270,425.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PHVS. Quantbot Technologies LP bought a new stake in shares of Pharvaris in the 2nd quarter worth about $41,000. JPMorgan Chase & Co. grew its holdings in Pharvaris by 30.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company's stock valued at $59,000 after purchasing an additional 783 shares during the last quarter. Barclays PLC purchased a new stake in Pharvaris in the 4th quarter worth about $77,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Pharvaris in the 4th quarter worth about $86,000. Finally, CoreCap Advisors LLC bought a new stake in Pharvaris in the second quarter worth about $93,000.

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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