The Manufacturers Life Insurance Company Decreases Position in Pharvaris N.V. $PHVS

The Manufacturers Life Insurance Company trimmed its holdings in Pharvaris N.V. (NASDAQ:PHVS) by 44.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,195 shares of the company’s stock after selling 35,695 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Pharvaris were worth $1,249,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new stake in Pharvaris during the fourth quarter worth approximately $35,000. JPMorgan Chase & Co. boosted its holdings in shares of Pharvaris by 30.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,342 shares of the company’s stock valued at $59,000 after buying an additional 783 shares in the last quarter. Barclays PLC purchased a new position in shares of Pharvaris in the 4th quarter valued at $77,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Pharvaris during the 4th quarter worth $86,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Pharvaris during the 4th quarter worth $110,000.

Pharvaris Price Performance

Shares of NASDAQ:PHVS opened at $34.42 on Wednesday. Pharvaris N.V. has a 1-year low of $20.36 and a 1-year high of $36.60. The stock has a market cap of $2.25 billion, a P/E ratio of -10.82 and a beta of -2.31. The firm has a fifty day moving average price of $33.46 and a 200 day moving average price of $29.95.

Pharvaris (NASDAQ:PHVS) last posted 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. Sell-side analysts expect that Pharvaris N.V. will post -2.97 EPS for the current fiscal year.

Insider Buying and Selling at Pharvaris

In related news, 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 transaction of $1,089,968.88. Following the transaction, the director owned 315,167 shares of the company’s stock, valued at $11,185,276.83. This trade represents a 8.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO David W. Nassif sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $30.31, for a total value of $303,100.00. Following the completion of the transaction, the chief financial officer owned 120,300 shares in the company, valued at $3,646,293. This trade represents a 7.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 178,322 shares of company stock valued at $5,969,286.

Analysts Set New Price Targets

Several research firms have issued reports on PHVS. Weiss Ratings restated a “sell (d-)” rating on shares of Pharvaris in a research note on Friday, July 17th. Citizens Jmp reduced their target price on Pharvaris from $75.00 to $74.00 and set a “market outperform” rating for the company in a report on Wednesday, May 13th. Morgan Stanley upped their target price on Pharvaris from $41.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Wells Fargo & Company began coverage on Pharvaris in a research note on Wednesday, July 15th. They set an “overweight” rating and a $55.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Pharvaris in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Pharvaris has an average rating of “Moderate Buy” and an average price target of $50.08.

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.