Pharvaris (NASDAQ:PHVS) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Pharvaris (NASDAQ:PHVS) to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

PHVS has been the topic of a number of other reports. Morgan Stanley lifted their price target on Pharvaris from $41.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Wolfe Research assumed coverage on Pharvaris in a research report on Thursday, April 9th. They issued an “outperform” rating and a $42.00 price objective for the company. UBS Group set a $74.00 target price on Pharvaris in a report on Wednesday, May 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Pharvaris in a research report on Tuesday, April 21st. Finally, Citizens Jmp lowered their price target on shares of Pharvaris from $75.00 to $74.00 and set a “market outperform” rating on the stock in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Pharvaris has a consensus rating of “Moderate Buy” and an average target price of $50.08.

Pharvaris Stock Up 3.8%

Shares of NASDAQ:PHVS opened at $34.94 on Wednesday. Pharvaris has a 52 week low of $19.12 and a 52 week high of $36.60. The company has a 50-day moving average price of $32.16 and a 200 day moving average price of $28.99. The company has a market cap of $2.29 billion, a P/E ratio of -10.99 and a beta of -2.34.

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

Insider Transactions at Pharvaris

In related news, Director Johannes Gerardus Chri Schikan sold 30,712 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $35.49, for a total value of $1,089,968.88. Following the completion of the transaction, the director directly owned 315,167 shares of the company’s stock, valued at $11,185,276.83. This trade represents a 8.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Glassman sold 10,000 shares of the business’s 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 sale, the director owned 10,500 shares in the company, valued at approximately $313,110. The trade was a 48.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 303,356 shares of company stock worth $9,746,065 over the last ninety days. 11.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pharvaris

Several institutional investors and hedge funds have recently made changes to their positions in the business. CoreCap Advisors LLC acquired a new stake in Pharvaris in the 2nd quarter valued at about $93,000. Seven Fleet Capital Management LP raised its position in Pharvaris by 472.3% during the first quarter. Seven Fleet Capital Management LP now owns 316,697 shares of the company’s stock worth $8,947,000 after acquiring an additional 261,355 shares during the last quarter. DV Trading LLC acquired a new position in Pharvaris during the first quarter worth about $4,067,000. Stempoint Capital LP raised its position in Pharvaris by 48.4% during the first quarter. Stempoint Capital LP now owns 86,637 shares of the company’s stock worth $2,447,000 after acquiring an additional 28,248 shares during the last quarter. Finally, ADAR1 Capital Management LLC lifted its holdings in shares of Pharvaris by 23.4% in the first quarter. ADAR1 Capital Management LLC now owns 105,528 shares of the company’s stock valued at $2,981,000 after purchasing an additional 20,000 shares in the last quarter.

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.