Pharvaris (NASDAQ:PHVS) Reaches New 12-Month High – Should You Buy?

Shares of Pharvaris N.V. (NASDAQ:PHVS) hit a new 52-week high during trading on Wednesday . The stock traded as high as $36.10 and last traded at $35.75, with a volume of 526211 shares trading hands. The stock had previously closed at $34.59.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PHVS shares. Morgan Stanley lifted their target price on shares of Pharvaris from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pharvaris in a report on Tuesday, April 21st. HC Wainwright reiterated a “buy” rating on shares of Pharvaris in a research report on Tuesday, June 16th. Wolfe Research initiated coverage on Pharvaris in a research report on Thursday, April 9th. They set an “outperform” rating and a $42.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Pharvaris from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.64.

Pharvaris Stock Performance

The stock has a market cap of $2.28 billion, a P/E ratio of -10.94 and a beta of -2.34. The stock’s fifty day moving average is $31.61 and its 200 day moving average is $28.64.

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

Insider Transactions at Pharvaris

In related news, insider Anne Lesage sold 27,872 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $35.48, for a total transaction of $988,898.56. Following the completion of the sale, the insider directly owned 58,750 shares of the company’s stock, valued at approximately $2,084,450. This trade represents a 32.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Berndt Modig sold 2,291 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $31.07, for a total value of $71,181.37. Following the completion of the sale, the chief executive officer owned 135,209 shares in the company, valued at approximately $4,200,943.63. The trade was a 1.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 305,648 shares of company stock valued at $9,811,616. Company insiders own 11.84% of the company’s stock.

Hedge Funds Weigh In On Pharvaris

Several institutional investors have recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new stake in Pharvaris in the fourth quarter worth about $35,000. JPMorgan Chase & Co. raised 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 purchasing an additional 783 shares in the last quarter. Barclays PLC bought a new stake in shares of Pharvaris in the 4th quarter valued at about $77,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Pharvaris in the 4th quarter worth approximately $86,000. Finally, CoreCap Advisors LLC purchased a new stake in shares of Pharvaris in the 2nd quarter worth approximately $93,000.

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.