your badges 52W Range $21–$43 47% of range Analyst Rating BUY 21 analysts Price Target $58 +85% upside P/E -9.3 ROE -65.2% Net Profit Margin ·

PHVS Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

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Price $31.19
P/E -9.3
EPS $-2.97
ROE -65.2%
52W Range $21–$43

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10-Year Performance Revenue, net income, margins and EPS trends

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EPS$-2.97
2021-12-31 → 2025-12-31
Free Cash Flow$-137M
2020-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend PHVS 5Y avg Peer Median Verdict
P/E -9.35Y avg ≈-8.6 ≈-8.6 · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

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Avg Surprise 1.5%
Next Report Nov 10, 2026
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 Aug 19, 2026 $-0.70 $-0.67 -5.2%
March 31, 2026 May 13, 2026 $-0.59 $-0.73 18.8%
Dec. 31, 2025 $-0.72 $-0.63 -13.7%
Sept. 30, 2025 $-0.60 $-0.68 12.3%
June 30, 2025 $-0.83 $-0.79 -5.6%
March 31, 2025 $-0.85 $-0.78 -9.2%
Dec. 31, 2024 $-0.64 $-0.74 13.0%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

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Income Statement 11
Metric Trend 2025202420232022202120202019
R&D Expense $124M$99M$66M$57M$36M$20M$6M
SG&A Expense $45M$47M$31M$29M$18M$5M$2M
Operating Income $-174M$-132M$-100M$-76M$-43M$-26M$-8M
Interest Expense ···$16.1K$267.5K$92.5K$16.9K
Pretax Income $-174M$-132M$-100M$-76M$-43M$-26M$-8M
Income Tax $2M$2M$1M$679.1K$70.1K$-83.3K$0
Net Income $-176M$-134M$-101M$-76M$-43M$-26M$-8M
EPS (Basic) $-2.97$-2.48$-2.63$-2.27$-1.40··
EPS (Diluted) $-2.97$-2.48$-2.63$-2.27$-1.40··
Shares (Diluted) 59,159,24754,020,54938,391,65433,585,97630,411,9024,850,0004,850,000
EBITDA $-174M$-132M$-100M$-76M$-43M$-26M·
Balance Sheet 8
Metric Trend 2025202420232022202120202019
Cash & Equivalents $292M$281M$391M$162M$209M$99M$20M
Receivables $5M$3M$1M$382.5K$700.1K$569.6K$210.8K
PP&E (Net) $642.5K$667.0K$223.7K$193.5K$108.1K$48.5K$12.9K
Total Assets $301M$291M$399M$168M$212M$101M$21M
Accounts Payable $5M$5M$3M$7M$2M$830.9K$517.8K
Total Liabilities $30M$24M$15M$18M$7M$5M$2M
Retained Earnings $-580M$-402M$-266M$-164M$-88M$-44M$-18M
Stockholders' Equity $271M$268M$384M$149M$205M$96M$19M
Cash Flow 6
Metric Trend 2025202420232022202120202019
Operating Cash Flow $-137M$-120M$-93M$-67M$-45M$-21M$-7M
CapEx $164.6K$538.1K$90.0K$124.3K$130.0K$43.0K$13.5K
Investing Cash Flow $-164.6K$-538.1K$-90.0K$-124.3K$-130.0K$-43.0K$-13.5K
Financing Cash Flow $161M$3M$325M$9M$144M$101M$22M
Free Cash Flow $-137M$-121M$-93M$-67M$-45M$-22M·
Levered FCF ···$-67M·$-23M·
Profitability 3
Metric Trend 2025202420232022202120202019
ROA -59.3%-38.9%-35.6%-40.2%-27.3%-42.7%·
ROE -65.2%-41.2%-37.8%-43.1%-28.4%-45.4%·
ROIC -64.8%-50.1%-26.3%-51.1%-20.8%-27.1%·
Liquidity & Solvency 1
Metric Trend 2025202420232022202120202019
Interest Coverage ···-4697.5·-24.5·
Per Share 2
Metric Trend 2025202420232022202120202019
Cash Flow / Share $-2.32$-2.22$-2.42$-2.00$-1.47$-4.43·
EPS (TTM) $-2.97$-2.48$-2.63$-2.27$-1.40··
Valuation (TTM) 3
Metric Trend 2025202420232022202120202019
Net Income TTM $-176M$-134M$-101M$-76M$-43M$-26M·
P/E -9.3-7.7-10.7-5.0-10.3··
Earnings Yield -10.7%-12.9%-9.4%-20.2%-9.7%··

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

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Metric 2025-12-312024-12-312023-12-312022-12-312021-12-31
Net Income $-176M $-134M $-101M $-76M $-43M
Diluted EPS $-2.97 $-2.48 $-2.63 $-2.27 $-1.40

Institutional owners (13F) 135 filers · $2.2B total · As of June 30, 2026

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Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 135
Value held $2.2B
New positions 27
Exited positions 8
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
27 (+15 vs prior Q) 8 (+4 vs prior Q) 49 (+15 vs prior Q) 35 (-1 vs prior Q) +5.6M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
FMR LLC $227,027,106 6,565,272 10.21% Shares
GENERAL ATLANTIC, L.P. $226,525,177 6,550,757 10.18% Shares
Foresite Capital Management IV, LLC $165,243,331 4,778,581 7.43% Shares
venBio Partners LLC $160,569,809 4,643,430 7.22% Shares
VIKING GLOBAL INVESTORS LP $126,331,460 3,653,310 5.68% Shares
EQT Fund Management S.a r.l. $118,422,979 3,424,609 5.32% Shares
DEERFIELD MANAGEMENT COMPANY, L.P. $116,743,532 3,376,042 5.25% Shares
Bain Capital Life Sciences Investors, LLC $92,519,101 2,675,509 4.16% Shares
WELLINGTON MANAGEMENT GROUP LLP $82,747,658 2,392,934 3.72% Shares
Polar Capital Holdings Plc $80,446,532 2,326,389 3.62% Shares
Point72 Asset Management, L.P. $56,752,696 1,641,200 2.55% Shares
Commodore Capital LP $49,276,500 1,425,000 2.22% Shares
NOVO HOLDINGS A/S $48,412,000 1,400,000 2.18% Shares
Saturn V Capital Management LP $45,442,339 1,314,122 2.04% Shares
TCG Crossover Management, LLC $34,864,559 1,008,229 1.57% Shares
Sofinnova Investments, Inc. $30,475,319 881,299 1.37% Shares
5AM Venture Management, LLC $27,581,008 797,600 1.24% Shares
Seven Fleet Capital Management LP $26,782,245 774,501 1.20% Shares
BlackRock, Inc. $26,676,879 771,454 1.20% Shares
Cormorant Asset Management, LP $25,935,000 750,000 1.17% Shares
Soleus Capital Management, L.P. $25,274,764 730,907 1.14% Shares
Jones Hill Capital LP $23,441,056 677,879 1.05% Shares
Patient Square Capital LP $23,210,407 671,209 1.04% Shares
Foresite Capital Management V, LLC $22,966,030 664,142 1.03% Shares
Kynam Capital Management, LP $22,884,871 661,795 1.03% Shares
Rock Springs Capital Management LP $22,419,355 648,333 1.01% Shares
Elmind Capital, LP $18,180,435 525,750 0.82% Shares
Balyasny Asset Management L.P. $18,130,363 524,302 0.81% Shares
DV EQUITIES, LLC $16,685,680 482,524 0.75% Shares
D. E. Shaw & Co., Inc. $16,301,081 471,402 0.73% Shares
Octagon Capital Advisors LP $15,793,412 456,721 0.71% Shares
MILLENNIUM MANAGEMENT LLC $14,779,596 427,403 0.66% Shares
Alyeska Investment Group, L.P. $14,068,147 406,829 0.63% Shares
Eversept Partners, LP $13,361,124 386,383 0.60% Shares
Ikarian Capital, LLC $10,680,241 308,856 0.48% Shares
Tetragon Partners GP Ltd $10,222,782 295,627 0.46% Shares
UBS Group AG $8,810,638 254,790 0.40% Shares
CITADEL ADVISORS LLC $8,360,925 241,785 0.38% Shares
EcoR1 Capital, LLC $8,126,300 235,000 0.37% Shares
TWO SIGMA INVESTMENTS, LP $7,491,411 216,640 0.34% Shares
ORBIMED ADVISORS LLC $7,102,732 205,400 0.32% Shares
Walleye Capital LLC $6,930,489 200,419 0.31% Shares
Kalehua Capital Management LLC $6,873,536 198,772 0.31% Shares
JANE STREET GROUP, LLC $6,226,579 180,063 0.28% Shares
STATE STREET CORP $5,831,260 168,631 0.26% Shares
Cinctive Capital Management LP $5,571,288 161,113 0.25% Shares
HighVista Strategies LLC $5,549,882 160,494 0.25% Shares
GOLDMAN SACHS GROUP INC $5,186,240 149,978 0.23% Shares
Qube Research & Technologies Ltd $4,836,013 139,850 0.22% Shares
BANK OF AMERICA CORP /DE/ $4,800,050 138,810 0.22% Shares

Show all 135 institutional owners →

Activists & 5%+ owners 1 position

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Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
venBio Global Strategic Fund III, L.P., venBio Global Strategic GP III, L.P., venBio Global Strategic GP III, Ltd., Corey Goodman, Robert Adelman ×4 filings Jan. 25, 2024 · Initial filing · SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 11 insiders · 7 officers · 5 directors

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Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Berndt Modig Chief Executive Officer Sept. 17, 2026 M 650,000 0 9 $-1,101,202
David W. Nassif CFO / CLO Sept. 21, 2026 G 113,800 0 2 $-521,920
Peng Lu President Sept. 22, 2026 M 110,261 0 13 $-6,947,640
Anne Lesage Chief Early Development Sept. 17, 2026 S 73,969 0 19 $-6,673,294
Stefan Andreas Abele Chief Technical Ops Officer Sept. 15, 2026 M 39,068 0 3 $-2,032,101
Wim Souverijns Chief Commercial Officer Sept. 14, 2026 M 39,021 0 3 $-1,322,849
Anna Nijdam Principal Accounting Officer June 4, 2026 S 46,275 0 3 $-307,491
Viviane Monges Director Sept. 23, 2026 M 5,500 0 2 $-688,388
Johannes Gerardus Christiaan Petrus Schikan Director Sept. 22, 2026 M 115,167 0 10 $-9,654,416
Robert Glassman Director Sept. 17, 2026 M 10,500 0 5 $-1,489,189
Elisabeth Bjork Director Sept. 17, 2026 M 15,167 0 2 $-2,282,425

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 8 ETFs

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Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
EWN · iShares, Inc. 0.28% 48,070 SH Sept. 11, 2026 Daily
IBBQ · Invesco Exchange-Traded Fund Trust … 0.15% 4,973 SH Oct. 2, 2026 Daily
IBB · iShares Trust 0.08% 224,037 SH Sept. 11, 2026 Daily
IEUS · iShares Trust 0.06% 2,694 SH Sept. 11, 2026 Daily
SCZ · iShares Trust 0.02% 82,231 SH Sept. 11, 2026 Daily
WSML · iShares Trust 0.01% 1,413 SH Sept. 11, 2026 Daily
IEFA · iShares Trust 0.00% 129,570 SH Sept. 11, 2026 Daily
IEUR · iShares Trust 0.00% 4,000 SH Sept. 9, 2026 Daily

PHVS Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 21 analysts BUY
Median target $60.39 +93.6%
9 42.9% Strong Buy
10 47.6% Buy
2 9.5% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

14 analysts · 2026-09-30

Mean target $57.59 +84.6%

← Below all targets Current price $31.19
Low$41.48 Mean$57.59 High$76.94

Latest News Recent headlines mentioning this company

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Pharvaris Chief Medical Officer Sells 14,000 Shares for $427,000 Nasdaq · 4 months, 3 weeks ago

My Metrics Your personal watchlist — selected rows from Full Fundamentals

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Source: SEC 20-F filed Apr 2, 2026