Pharvaris (NASDAQ:PHVS) Stock Breaks Above Fifty Day Moving Average – Here’s Why

Pharvaris N.V. (NASDAQ:PHVS) shares passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $33.56 and traded as high as $35.30. Pharvaris shares last traded at $34.78, with a volume of 577,200 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently commented on PHVS. Guggenheim raised their target price on Pharvaris from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. Morgan Stanley upped their price target on Pharvaris from $46.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, September 9th. Wells Fargo & Company increased their price objective on Pharvaris from $55.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 9th. Royal Bank Of Canada increased their price objective on Pharvaris from $52.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 9th. Finally, New Street Research set a $60.00 price objective on Pharvaris in a research report on Friday, August 14th. Fourteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Pharvaris currently has an average rating of “Moderate Buy” and a consensus price target of $59.53.

Pharvaris Stock Up 3.7%

The stock’s 50-day moving average is $33.56 and its 200 day moving average is $31.04. The stock has a market capitalization of $2.27 billion, a PE ratio of -11.40 and a beta of -2.48.

Pharvaris (NASDAQ:PHVS) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.06). As a group, equities research analysts forecast that Pharvaris N.V. will post -3.12 EPS for the current year.

Insider Activity at Pharvaris

In other news, CFO David Nassif sold 6,000 shares of the business’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $36.47, for a total transaction of $218,820.00. Following the transaction, the chief financial officer directly owned 114,300 shares in the company, valued at $4,168,521. The trade was a 4.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Elisabeth Bjork sold 52,500 shares of the company’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $37.89, for a total transaction of $1,989,225.00. Following the completion of the transaction, the director directly owned 15,167 shares in the company, valued at $574,677.63. This trade represents a 77.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 513,102 shares of company stock worth $18,643,666.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PHVS. venBio Partners LLC acquired a new position in Pharvaris in the 2nd quarter worth about $160,569,809. Wellington Management Group LLP raised its stake in shares of Pharvaris by 12.9% during the 2nd quarter. Wellington Management Group LLP now owns 2,392,934 shares of the company’s stock worth $82,748,000 after purchasing an additional 274,034 shares in the last quarter. Commodore Capital LP lifted its holdings in shares of Pharvaris by 1.6% during the 1st quarter. Commodore Capital LP now owns 1,918,970 shares of the company’s stock valued at $54,211,000 after buying an additional 29,525 shares during the last quarter. 5AM Venture Management LLC acquired a new stake in shares of Pharvaris during the 2nd quarter valued at about $27,581,008. Finally, Seven Fleet Capital Management LP lifted its holdings in shares of Pharvaris by 144.6% during the 2nd quarter. Seven Fleet Capital Management LP now owns 774,501 shares of the company’s stock valued at $26,782,000 after buying an additional 457,804 shares during the last quarter.

About Pharvaris

Pharvaris N.V. (NASDAQ: PHVS) is a biopharmaceutical company focused on developing oral therapies for hereditary angioedema (HAE), a rare genetic disorder that causes recurrent episodes of swelling. The company was founded in 2015 by individuals with experience in HAE drug development and aims to provide convenient, non-injectable treatment options for patients.

Pharvaris’ lead investigational product is deucrictibant, an oral bradykinin B2 receptor antagonist designed for use both as an on-demand treatment for HAE attacks and as a preventive therapy.