Cormorant Asset Management LP Decreases Stock Position in Pharvaris N.V. $PHVS

Cormorant Asset Management LP lessened its stake in shares of Pharvaris N.V. (NASDAQ:PHVS) by 20.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,083,000 shares of the company’s stock after selling 280,200 shares during the period. Pharvaris makes up approximately 1.4% of Cormorant Asset Management LP’s holdings, making the stock its 17th largest holding. Cormorant Asset Management LP’s holdings in Pharvaris were worth $30,053,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. California State Teachers Retirement System raised its holdings in Pharvaris by 2.2% during the 4th quarter. California State Teachers Retirement System now owns 23,982 shares of the company’s stock valued at $666,000 after buying an additional 520 shares during the period. JPMorgan Chase & Co. raised its holdings in Pharvaris by 30.6% during 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 during the period. GF Fund Management CO. LTD. purchased a new stake in Pharvaris during the 4th quarter valued at $35,000. Public Employees Retirement System of Ohio raised its holdings in Pharvaris by 20.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 7,569 shares of the company’s stock valued at $210,000 after buying an additional 1,300 shares during the period. Finally, Legal & General Group Plc raised its holdings in Pharvaris by 17.2% during the 2nd quarter. Legal & General Group Plc now owns 11,550 shares of the company’s stock valued at $203,000 after buying an additional 1,695 shares during the period.

Insider Buying and Selling at Pharvaris

In other news, Director Johannes Gerardus Chri Schikan sold 29,070 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $30.32, for a total transaction of $881,402.40. Following the transaction, the director owned 355,167 shares of the company’s stock, valued at approximately $10,768,663.44. This represents a 7.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $298,200.00. Following the transaction, the director directly owned 10,500 shares in the company, valued at $313,110. The trade was a 48.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 214,909 shares of company stock worth $6,421,745. Insiders own 11.84% of the company’s stock.

Pharvaris Stock Up 6.2%

Shares of Pharvaris stock opened at $33.41 on Thursday. Pharvaris N.V. has a 52 week low of $16.00 and a 52 week high of $33.50. The stock’s fifty day moving average is $29.81 and its two-hundred day moving average is $27.67. The company has a market capitalization of $2.19 billion, a PE ratio of -10.51 and a beta of -2.35.

Pharvaris (NASDAQ:PHVS) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.12. As a group, research analysts anticipate that Pharvaris N.V. will post -3.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. UBS Group set a $74.00 price target on Pharvaris in a report on Wednesday, May 13th. Citizens Jmp cut their price objective on Pharvaris from $75.00 to $74.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pharvaris in a research report on Tuesday, April 21st. Wall Street Zen raised Pharvaris from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Citigroup reaffirmed a “buy” rating on shares of Pharvaris in a research report on Wednesday, April 15th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.18.

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.