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

Pharvaris N.V. (NASDAQ:PHVS) saw an uptick in trading volume on Tuesday . 404,451 shares traded hands during trading, an increase of 23% from the previous session’s volume of 328,590 shares.The stock last traded at $36.9690 and had previously closed at $37.31.

Analysts Set New Price Targets

PHVS has been the subject of a number of research analyst reports. HSBC upgraded Pharvaris to an “overweight” rating in a report on Thursday, August 13th. Citigroup reissued a “market outperform” rating on shares of Pharvaris in a research report on Thursday, August 13th. Morgan Stanley increased their price objective on Pharvaris from $41.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Wells Fargo & Company assumed coverage on Pharvaris in a research report on Wednesday, July 15th. They set an “overweight” rating and a $55.00 price objective for the company. Finally, Wall Street Zen cut Pharvaris from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.08.

Pharvaris Stock Down 0.6%

The stock’s 50 day moving average price is $34.47 and its two-hundred day moving average price is $30.64. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -12.13 and a beta of -2.31.

Pharvaris (NASDAQ:PHVS) last issued its earnings results on Wednesday, August 12th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.06). On average, equities analysts expect that Pharvaris N.V. will post -3.15 EPS for the current fiscal year.

Insider Transactions at Pharvaris

In related news, insider Anna Nijdam sold 2,670 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $30.87, for a total transaction of $82,422.90. Following the transaction, the insider owned 46,275 shares of the company’s stock, valued at approximately $1,428,509.25. This trade represents a 5.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Johannes Gerardus Chri Schikan sold 30,712 shares of the firm’s stock in a transaction that occurred 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 transaction, the director directly owned 315,167 shares in the company, valued at approximately $11,185,276.83. The trade was a 8.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 121,325 shares of company stock worth $4,270,425. Corporate insiders own 11.84% of the company’s stock.

Institutional Investors Weigh In On Pharvaris

A number of large investors have recently bought and sold shares of the business. Quantbot Technologies LP bought a new position in Pharvaris during the second quarter valued at about $41,000. JPMorgan Chase & Co. boosted its stake in shares of Pharvaris by 30.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company’s stock worth $59,000 after acquiring an additional 783 shares in the last quarter. Barclays PLC bought a new stake in shares of Pharvaris during the 4th quarter worth about $77,000. CoreCap Advisors LLC bought a new stake in shares of Pharvaris during the 2nd quarter worth about $93,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Pharvaris during the 4th quarter valued at about $110,000.

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.