Pharvaris (NASDAQ:PHVS) Sees Strong Trading Volume – Time to Buy?

Pharvaris N.V. (NASDAQ:PHVS) saw unusually-strong trading volume on Thursday . 724,674 shares traded hands during mid-day trading, an increase of 162% from the previous session’s volume of 276,677 shares.The stock last traded at $36.1690 and had previously closed at $35.92.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wolfe Research assumed coverage on Pharvaris in a research report on Thursday, April 9th. They set an “outperform” rating and a $42.00 price target for the company. Wall Street Zen raised shares of Pharvaris from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. UBS Group set a $74.00 target price on shares of Pharvaris in a report on Wednesday, May 13th. Morgan Stanley increased their target price on shares of Pharvaris from $41.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Finally, Citizens Jmp decreased their price target on shares of Pharvaris from $75.00 to $74.00 and set a “market outperform” rating on the stock in a research note on Wednesday, May 13th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.64.

Pharvaris Trading Down 2.5%

The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -11.03 and a beta of -2.34. The stock’s fifty day moving average price is $31.71 and its 200-day moving average price is $28.69.

Pharvaris (NASDAQ:PHVS) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.70) EPS for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.12. Analysts predict that Pharvaris N.V. will post -3.2 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robert Glassman sold 10,000 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $29.82, for a total transaction of $298,200.00. Following the completion of the transaction, the director directly owned 10,500 shares in the company, valued at approximately $313,110. This represents a 48.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Johannes Gerardus Chri Schikan sold 30,712 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 315,167 shares of the company’s stock, valued at $11,185,276.83. The trade was a 8.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 305,648 shares of company stock worth $9,811,616. Corporate insiders own 11.84% of the company’s stock.

Institutional Investors Weigh In On Pharvaris

A number of institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. acquired a new position in shares of Pharvaris in the 4th quarter worth approximately $35,000. CoreCap Advisors LLC acquired a new stake in Pharvaris in the 2nd quarter valued at approximately $93,000. Barclays PLC acquired a new stake in Pharvaris in the 4th quarter valued at approximately $77,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Pharvaris in the fourth quarter valued at approximately $86,000. Finally, JPMorgan Chase & Co. raised its position in Pharvaris by 30.6% in the second 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 period.

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.