Pharvaris reports earnings miss amid shifting institutional holdings

Pharvaris N. V. reported quarterly earnings of ($0.80) per share, missing the consensus estimate of ($0.75) by $0.05. Despite the miss, the company's stock saw a mid-day increase to $34.64. Recent analyst sentiment for Pharvaris includes a mix of ratings, with a consensus of 'Moderate Buy' and an average price target of $50.08. Notably, The Manufacturers Life Insurance Company reduced its stake in the company by 44.7% during the first quarter.

In other institutional movements, Wedge Capital Management L L P NC and Wealthcare Advisory Partners LLC both reduced their positions in Cummins Inc. during the second quarter. Conversely, several other firms, including Vanguard Group Inc. and Northwestern Mutual Wealth Management Co., increased their holdings in Cummins.

Wealthcare Advisory Partners LLC also decreased its stake in Philip Morris International Inc. by 34.1% in the second quarter, while other major institutional investors such as Capital Research Global Investors and Bank of America Corp increased their positions in the company.