Pharvaris (NASDAQ:PHVS) Issues Earnings Results, Misses Expectations By $0.05 EPS

Pharvaris (NASDAQ:PHVS) released its earnings results on Wednesday. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.05), FiscalAI reports.

Pharvaris Stock Up 0.8%

PHVS traded up $0.29 during trading on Wednesday, hitting $34.71. The company had a trading volume of 632,986 shares, compared to its average volume of 306,180. The company has a market capitalization of $2.27 billion, a PE ratio of -10.92 and a beta of -2.31. The firm’s 50-day moving average price is $33.46 and its 200 day moving average price is $29.95. Pharvaris has a one year low of $20.65 and a one year high of $36.60.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PHVS shares. Citizens Jmp reduced their price objective 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. Citigroup restated a “buy” rating on shares of Pharvaris in a research report on Wednesday, April 15th. Wells Fargo & Company began coverage on Pharvaris in a report on Wednesday, July 15th. They set an “overweight” rating and a $55.00 target price on the stock. HC Wainwright reissued a “buy” rating on shares of Pharvaris in a research note on Tuesday, June 16th. Finally, UBS Group set a $74.00 price target on Pharvaris in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.08.

Insider Activity at Pharvaris

In related news, Director Johannes Gerardus Chri Schikan sold 30,712 shares of the stock in a transaction on 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 completion of the transaction, the director owned 315,167 shares in the company, valued at approximately $11,185,276.83. This represents a 8.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Glassman sold 10,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were 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 of the company’s stock, valued at approximately $313,110. This trade represents a 48.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 178,322 shares of company stock worth $5,969,286.

Institutional Trading of Pharvaris

Hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System raised its holdings in shares of Pharvaris by 2.2% in the 4th quarter. California State Teachers Retirement System now owns 23,982 shares of the company’s stock valued at $666,000 after purchasing an additional 520 shares during the period. JPMorgan Chase & Co. grew its holdings in Pharvaris by 30.6% during the second quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company’s stock worth $59,000 after purchasing an additional 783 shares during the period. Public Employees Retirement System of Ohio increased its position in Pharvaris by 20.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 7,569 shares of the company’s stock worth $210,000 after buying an additional 1,300 shares during the last quarter. Legal & General Group Plc increased its position in Pharvaris by 17.2% during the second quarter. Legal & General Group Plc now owns 11,550 shares of the company’s stock worth $203,000 after buying an additional 1,695 shares during the last quarter. Finally, Swiss National Bank raised its stake in Pharvaris by 5.7% in the fourth quarter. Swiss National Bank now owns 44,757 shares of the company’s stock valued at $1,242,000 after buying an additional 2,400 shares during the period.

Pharvaris Company Profile

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.