Pharvaris (NASDAQ:PHVS) Stock Breaks Above Fifty Day Moving Average - Here's Why

Key Points

• Pharvaris shares moved above their 50-day moving average of $33.56, reaching $35.30 before last trading at $34.78, up 3.7% on the day.
• Analyst sentiment is broadly positive: 14 analysts rate the stock Buy and one rates it Sell, giving it a “Moderate Buy” consensus and an average price target of $59.53.
• The company missed its latest quarterly earnings estimate, reporting a loss of $0.81 per share versus the expected $0.75 loss; insiders also sold a combined 513,102 shares over the past three months.

Shares of Pharvaris N.V. (NASDAQ:PHVS - Get Free Report) crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $33.56 and traded as high as $35.30. Pharvaris shares last traded at $34.78, with a volume of 577,200 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have commented on PHVS. New Street Research set a $60.00 price target on shares of Pharvaris in a research report on Friday, August 14th. HSBC upgraded shares of Pharvaris to an "overweight" rating in a research report on Thursday, August 13th. Guggenheim raised their price objective on shares of Pharvaris from $40.00 to $44.00 and gave the company a "buy" rating in a research report on Thursday, September 10th. UBS Group set a $60.00 price objective on shares of Pharvaris in a research note on Tuesday, October 6th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $65.00 target price on shares of Pharvaris in a report on Monday, September 14th. Fourteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $59.53.

Pharvaris Trading Up 3.7%

The company has a market cap of $2.27 billion, a price-to-earnings ratio of -11.40 and a beta of -2.48. The business has a 50-day moving average price of $33.56 and a 200 day moving average price of $31.04.

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

Insiders Place Their Bets

In related news, insider Anne Lesage sold 30,000 shares of Pharvaris stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $38.30, for a total value of $1,149,000.00. Following the transaction, the insider owned 56,450 shares of the company's stock, valued at approximately $2,162,035. This trade represents a 34.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Peng Lu sold 100,000 shares of Pharvaris stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $35.00, for a total value of $3,500,000.00. Following the completion of the transaction, the president directly owned 64,953 shares in the company, valued at $2,273,355. This represents a 60.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 513,102 shares of company stock worth $18,643,666 over the last three months.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Pharvaris during the third quarter valued at approximately $114,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Pharvaris by 12.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 16,510 shares of the company's stock valued at $524,000 after acquiring an additional 1,791 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Pharvaris in the 2nd quarter worth approximately $1,143,000. Amundi boosted its stake in Pharvaris by 61.4% in the 2nd quarter. Amundi now owns 49,944 shares of the company's stock worth $1,727,000 after purchasing an additional 18,992 shares during the period. Finally, Moore Capital Management LP acquired a new position in Pharvaris in the 2nd quarter worth approximately $1,522,000.

About Pharvaris

Pharvaris N.V. NASDAQ: PHVS is a biopharmaceutical company focused on developing oral therapies for hereditary angioedema (HAE), a rare genetic disorder that causes recurrent episodes of swelling. The company was founded in 2015 by individuals with experience in HAE drug development and aims to provide convenient, non-injectable treatment options for patients.

Pharvaris' lead investigational product is deucrictibant, an oral bradykinin B2 receptor antagonist designed for use both as an on-demand treatment for HAE attacks and as a preventive therapy.

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