Cormorant Asset Management LP Sells 280,200 Shares of Pharvaris N.V. $PHVS

Cormorant Asset Management LP lowered its stake in shares of Pharvaris N.V. (NASDAQ:PHVS) by 20.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,083,000 shares of the company’s stock after selling 280,200 shares during the quarter. Pharvaris comprises 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new stake in Pharvaris during the fourth quarter valued at about $35,000. Barclays PLC bought a new stake in Pharvaris during the fourth quarter valued at about $77,000. China Universal Asset Management Co. Ltd. bought a new stake in Pharvaris during the third quarter valued at about $75,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Pharvaris during the fourth quarter valued at about $86,000. Finally, JPMorgan Chase & Co. boosted its position in Pharvaris by 30.6% during the second 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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada dropped their price objective on Pharvaris from $52.00 to $51.00 and set an “outperform” rating on the stock in a research report on Monday, April 6th. Wall Street Zen raised Pharvaris from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Citizens Jmp dropped 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. UBS Group set a $74.00 price objective on Pharvaris in a research report on Wednesday, May 13th. Finally, Wolfe Research assumed 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. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Pharvaris has an average rating of “Moderate Buy” and an average price target of $49.18.

Pharvaris Trading Up 6.2%

Shares of Pharvaris stock opened at $33.41 on Thursday. Pharvaris N.V. has a 12-month low of $16.00 and a 12-month high of $33.50. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -10.51 and a beta of -2.35. The firm’s 50 day simple moving average is $29.81 and its two-hundred day simple moving average is $27.67.

Pharvaris (NASDAQ:PHVS) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.82) by $0.12. On average, sell-side analysts predict that Pharvaris N.V. will post -3.22 EPS for the current fiscal year.

Insider Activity

In other Pharvaris news, CFO David W. Nassif sold 10,000 shares of Pharvaris stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $30.31, for a total transaction of $303,100.00. Following the completion of the sale, the chief financial officer directly owned 120,300 shares in the company, valued at approximately $3,646,293. The trade was a 7.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Anna Nijdam sold 2,670 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $30.87, for a total transaction of $82,422.90. Following the completion of the sale, the insider owned 46,275 shares in the company, valued at $1,428,509.25. The trade was a 5.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 214,909 shares of company stock valued at $6,421,745. 11.84% of the stock is owned by insiders.

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.