Sofinnova Investments Inc. Buys 16,862 Shares of Pharvaris (NASDAQ:PHVS)

Sofinnova Investments Inc. boosted its stake in shares of Pharvaris (NASDAQ:PHVS) by 2.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 601,534 shares of the company’s stock after buying an additional 16,862 shares during the quarter. Sofinnova Investments Inc. owned approximately 1.89% of Pharvaris worth $11,309,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Blackstone Inc. bought a new stake in shares of Pharvaris during the fourth quarter valued at approximately $2,805,000. Commodore Capital LP purchased a new position in Pharvaris during the 4th quarter worth $22,440,000. Finally, venBio Partners LLC raised its position in Pharvaris by 15.4% during the 4th quarter. venBio Partners LLC now owns 4,919,504 shares of the company’s stock valued at $137,992,000 after purchasing an additional 654,832 shares in the last quarter.

Analysts Set New Price Targets

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

Pharvaris Price Performance

Shares of NASDAQ:PHVS opened at $20.60 on Tuesday. The firm has a 50 day moving average of $18.14 and a 200 day moving average of $20.00. Pharvaris has a 52 week low of $15.00 and a 52 week high of $33.00.

Pharvaris (NASDAQ:PHVS) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.02). Equities research analysts predict that Pharvaris will post -2.58 EPS for the current year.

About Pharvaris

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.