Pharvaris (NASDAQ:PHVS) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Pharvaris shares saw unusually high trading volume, with about 413,006 shares changing hands—5% above the prior session—while the stock traded around $38.07, down 1.7%.
• Analysts remain broadly bullish: 13 rate the stock Buy, one rates it Hold and one Sell, producing a “Moderate Buy” consensus and an average price target of $59.87.
• Recent results were weaker than expected, with quarterly EPS of -$0.81 missing estimates by $0.06, while insiders sold approximately 169,364 shares worth $6.18 million over the past three months.

Pharvaris N.V. (NASDAQ:PHVS - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 413,006 shares were traded during mid-day trading, an increase of 5% from the previous session's volume of 395,039 shares.The stock last traded at $38.0650 and had previously closed at $38.86.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Royal Bank Of Canada increased their price objective on Pharvaris from $52.00 to $62.00 and gave the company an "outperform" rating in a research report on Wednesday, September 9th. UBS Group set a $79.00 target price on Pharvaris in a report on Wednesday, September 9th. Rosenblatt Securities set a $60.00 price target on Pharvaris in a research report on Wednesday, September 9th. Citigroup reiterated a "market outperform" rating on shares of Pharvaris in a research report on Wednesday, September 9th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $65.00 price target on shares of Pharvaris in a research note on Monday. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $59.87.

Pharvaris Trading Down 1.7%

The business's 50-day simple moving average is $35.20 and its 200-day simple moving average is $31.49. The company has a market cap of $2.50 billion, a PE ratio of -12.53 and a beta of -2.33.

Pharvaris (NASDAQ:PHVS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.06). On average, research analysts predict that Pharvaris N.V. will post -3.12 earnings per share for the current fiscal year.

Insider Transactions at Pharvaris

In other news, President Peng Lu sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $40.68, for a total value of $610,200.00. Following the completion of the sale, the president directly owned 65,179 shares of the company's stock, valued at approximately $2,651,481.72. This represents a 18.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Berndt Modig sold 2,292 shares of the business's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $34.77, for a total transaction of $79,692.84. Following the transaction, the chief executive officer directly owned 130,625 shares in the company, valued at $4,541,831.25. This trade represents a 1.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 169,364 shares of company stock worth $6,176,421.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PHVS. Engineers Gate Manager LP acquired a new position in shares of Pharvaris during the second quarter valued at about $1,143,000. Amundi grew its position in Pharvaris by 61.4% during the second quarter. Amundi now owns 49,944 shares of the company's stock worth $1,727,000 after buying an additional 18,992 shares in the last quarter. Moore Capital Management LP bought a new position in Pharvaris during the second quarter valued at about $1,522,000. Alyeska Investment Group L.P. increased its stake in Pharvaris by 225.5% during the second quarter. Alyeska Investment Group L.P. now owns 406,829 shares of the company's stock valued at $14,068,000 after acquiring an additional 281,829 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Pharvaris by 12.9% in the 2nd quarter. Wellington Management Group LLP now owns 2,392,934 shares of the company's stock valued at $82,748,000 after acquiring an additional 274,034 shares in the last quarter.

Pharvaris Company Profile

Pharvaris N.V. is a biopharmaceutical company focused on developing oral therapies for hereditary angioedema (HAE), a rare genetic disorder characterized by recurrent episodes of swelling. The company is headquartered in Zug, Switzerland, and was founded in 2015 by former executives from Pharming Group.

Pharvaris' lead investigational medicine is deucrictibant, an orally administered small-molecule bradykinin B2 receptor antagonist. The company is evaluating different formulations of deucrictibant for both on-demand treatment of HAE attacks and long-term prevention of attacks.

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