Sofinnova Investments Inc. Boosts Holdings in Pharvaris (NASDAQ:PHVS)

Sofinnova Investments Inc. grew its position in Pharvaris (NASDAQ:PHVS) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 601,534 shares of the company’s stock after purchasing an additional 16,862 shares during the quarter. Sofinnova Investments Inc.’s holdings in Pharvaris were worth $11,309,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Blackstone Inc. purchased a new position in Pharvaris during the 4th quarter worth $2,805,000. Commodore Capital LP acquired a new stake in Pharvaris in the fourth quarter worth about $22,440,000. Finally, venBio Partners LLC boosted its holdings in Pharvaris by 15.4% in the fourth quarter. venBio Partners LLC now owns 4,919,504 shares of the company’s stock worth $137,992,000 after acquiring an additional 654,832 shares in the last quarter.

Pharvaris Trading Down 1.5 %

NASDAQ:PHVS opened at $20.60 on Tuesday. The company’s fifty day moving average price is $18.14 and its 200-day moving average price is $20.00. Pharvaris has a 1-year low of $15.00 and a 1-year high of $33.00.

Pharvaris (NASDAQ:PHVS) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.02). On average, equities research analysts anticipate that Pharvaris will post -2.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Oppenheimer upped their price target on shares of Pharvaris from $38.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $33.60.

Pharvaris Company Profile

Pharvaris N.V., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapies for rare diseases. The company develops PHA121, a small molecule bradykinin B2-receptor antagonist for the treatment of hereditary angioedema (HAE). It also develops PHVS416, an on-demand, rapid exposure soft capsule for patients suffering from acute HAE attacks which is under Phase 2 clinical trial; and PHVS719, a prophylactic extended-release tablet for HAE patients which is under Phase 1 clinical trial.