Pharvaris (NASDAQ:PHVS) Announces Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Pharvaris (NASDAQ:PHVS) issued its earnings results on Wednesday. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.06), Zacks reports.

Pharvaris Trading Up 5.9%

Shares of PHVS stock opened at $36.46 on Thursday. The company’s fifty day moving average price is $33.59 and its 200-day moving average price is $30.01. The stock has a market cap of $2.38 billion, a PE ratio of -11.47 and a beta of -2.31. Pharvaris has a 12 month low of $20.65 and a 12 month high of $36.65.

Analyst Ratings Changes

A number of brokerages have commented on PHVS. UBS Group set a $74.00 price target on Pharvaris in a research note on Wednesday, May 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Pharvaris in a report on Friday, July 17th. HSBC raised shares of Pharvaris to an “overweight” rating in a research report on Thursday. Citigroup reaffirmed a “market outperform” rating on shares of Pharvaris in a research note on Thursday. Finally, Morgan Stanley upped their target price on Pharvaris from $41.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.08.

Insider Activity at Pharvaris

In related news, Director Johannes Gerardus Chri Schikan sold 30,712 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $35.49, for a total transaction of $1,089,968.88. Following the sale, the director owned 315,167 shares of the company’s stock, valued at $11,185,276.83. The trade was a 8.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Wim Souverijns sold 10,000 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $29.92, for a total transaction of $299,200.00. Following the completion of the sale, the insider owned 45,111 shares in the company, valued at approximately $1,349,721.12. This trade represents a 18.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 178,322 shares of company stock worth $5,969,286 over the last 90 days. 11.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in Pharvaris by 41.1% in the second quarter. Geode Capital Management LLC now owns 54,102 shares of the company’s stock worth $952,000 after acquiring an additional 15,769 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of 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 acquiring an additional 783 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Pharvaris by 17.2% during the second quarter. Legal & General Group Plc now owns 11,550 shares of the company’s stock valued at $203,000 after acquiring an additional 1,695 shares in the last quarter. Amundi raised its position in shares of Pharvaris by 2,741,600.0% in the 2nd quarter. Amundi now owns 27,417 shares of the company’s stock worth $489,000 after purchasing an additional 27,416 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Pharvaris by 19.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,857 shares of the company’s stock worth $860,000 after purchasing an additional 7,879 shares during the last quarter.

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.