Wall Street Zen Downgrades Pharvaris (NASDAQ:PHVS) to Sell

Key Points

• Wall Street Zen downgraded Pharvaris from hold to sell, adding to a mixed analyst picture despite the broader consensus still being Moderate Buy with a $50.08 price target.
• Pharvaris shares were up 3.8% and opened at $34.94, below the consensus target but near the stock’s 12-month high of $36.60.
• Recent company updates showed better-than-expected quarterly earnings of -$0.70 per share versus estimates of -$0.82, while insiders have also been selling shares in recent months.

Pharvaris (NASDAQ:PHVS - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts also recently weighed in on the company. Wedbush lifted their target price on Pharvaris from $41.00 to $42.00 and gave the stock an "outperform" rating in a report on Tuesday, April 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of Pharvaris in a research report on Tuesday, April 21st. Wells Fargo & Company assumed coverage on shares of Pharvaris in a research note on Wednesday. They issued an "overweight" rating and a $55.00 price target on the stock. Wolfe Research began coverage on shares of Pharvaris in a research report on Thursday, April 9th. They set an "outperform" rating and a $42.00 price target on the stock. Finally, Royal Bank Of Canada dropped their price objective on shares of Pharvaris from $52.00 to $51.00 and set an "outperform" rating for the company in a research note on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $50.08.

Pharvaris Stock Up 3.8%

Shares of PHVS stock opened at $34.94 on Friday. Pharvaris has a 12-month low of $19.12 and a 12-month high of $36.60. The company has a market capitalization of $2.29 billion, a PE ratio of -10.99 and a beta of -2.34. The firm has a 50 day moving average price of $32.16 and a two-hundred day moving average price of $28.99.

Pharvaris (NASDAQ:PHVS - Get Free Report) last announced its earnings results on Tuesday, May 12th. The company reported ($0.70) earnings per share for the quarter, topping analysts' consensus estimates of ($0.82) by $0.12. As a group, research analysts expect that Pharvaris will post -3.2 EPS for the current year.

Insider Buying and Selling at Pharvaris

In other Pharvaris news, Director Johannes Gerardus Chri Schikan sold 30,712 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $35.49, for a total transaction of $1,089,968.88. Following the sale, the director directly owned 315,167 shares in the company, valued at $11,185,276.83. This represents a 8.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Berndt Modig sold 2,291 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $31.07, for a total transaction of $71,181.37. Following the completion of the transaction, the chief executive officer owned 135,209 shares of the company's stock, valued at $4,200,943.63. The trade was a 1.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 303,356 shares of company stock valued at $9,746,065 over the last three months. 11.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL acquired a new stake in shares of Pharvaris in the 3rd quarter valued at $1,943,000. PSP Research LLC acquired a new position in shares of Pharvaris during the 4th quarter worth $569,000. JPMorgan Chase & Co. raised its holdings in shares of Pharvaris by 710.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 27,085 shares of the company's stock worth $676,000 after buying an additional 23,743 shares in the last quarter. Seven Fleet Capital Management LP bought a new stake in shares of Pharvaris during the 4th quarter worth $1,536,000. Finally, Eversept Partners LP bought a new stake in shares of Pharvaris during the 4th quarter worth $12,187,000.

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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