A $68 Million Signal: What General Atlantic Sees in Pharvaris Right Now

General Atlantic, L.P. disclosed a purchase of 500,000 additional shares of Pharvaris (NASDAQ:PHVS), boosting its position by an estimated $67.83 million, per November 13, 2025, SEC filing.

What happened

According to a filing with the Securities and Exchange Commission (SEC) dated November 13, 2025, General Atlantic, L.P. acquired an additional 500,000 shares of Pharvaris over the most recent quarter. The post-trade position totals 8,031,252 shares, valued at $200.38 million as of September 30, 2025.

What else to know

General Atlantic, L.P. increased its Pharvaris holding, which now represents 6.0% of its $3.33 billion reportable AUM

Top holdings after the filing:

• NASDAQ:DLO: $666.3 million (20.0% of AUM)
• NASDAQ:XP: $479.5 million (14.4% of AUM)
• NASDAQ:ALHC: $423.8 million (12.7% of AUM)
• NASDAQ:CHYM: $387.4 million (11.6% of AUM)
• NASDAQ:ALKT: $297.9 million (8.9% of AUM)

As of November 12, 2025, shares of Pharvaris were priced at $25.81, up 30.1% over the past year, outperforming the S&P 500 by 7.3 percentage points

Company Overview

Company Snapshot

• Develops small molecule therapies for hereditary angioedema (HAE), including PHA121 (Phase II), PHVS416 (on-demand, Phase II), and PHVS719 (prophylactic, Phase I).
• Operates a clinical-stage biopharmaceutical model focused on advancing proprietary drug candidates through clinical trials for rare disease markets.
• Targets patients with hereditary angioedema, serving healthcare providers and institutions treating rare genetic disorders across Europe and the United States.

Pharvaris is a clinical-stage biotechnology company specializing in the development of oral therapies for hereditary angioedema, a rare and serious genetic disorder.

With a pipeline of differentiated drug candidates in multiple clinical phases, the company leverages its expertise in bradykinin B2-receptor antagonists to address significant unmet medical needs.

Pharvaris' strategy centers on innovation in rare disease therapeutics, aiming to deliver both acute and prophylactic treatment options that could improve patient outcomes and quality of life. Its focus on proprietary small molecule platforms provides a competitive edge in the evolving rare disease market.

Foolish take

General Atlantic just raised its stake in Pharvaris by nearly $68 million, and moves like this rarely happen without a clear inflection ahead. The company is closing in on clinical results that could determine whether its oral drug becomes the first major shift in treating hereditary angioedema in more than a decade. The bet signals that a sophisticated investor sees a turning point approaching — one that could reset how the market values the company.

Pharvaris is aiming to replace injectable options for hereditary angioedema, a condition marked by abrupt and potentially life-threatening swelling episodes. A pill that works in both on-demand and preventive settings would significantly improve how patients manage those attacks. Early trials showed encouraging reductions in attack frequency, and the FDA has now cleared both the acute and prophylactic programs following a review of new toxicology data. That removes a cloud that the market has been watching closely. Pivotal studies are underway, and Pharvaris has sufficient capital to reach the next readouts without new financing. That alone reduces a source of risk that often overshadows late-stage biotech names.

For investors, the upcoming data cycle is the story. Deucrictibant must prove efficacy at scale, earn the FDA’s confidence, and demonstrate that patients prefer the convenience of oral therapy in real-world settings. If those pieces fall into place, Pharvaris could move from being a single-asset clinical company to a central player in a market that has waited years for a next-generation option.

Glossary

13F reportable assets under management (AUM): The total value of securities a fund manager must disclose in quarterly SEC filings.
Assets Under Management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
Clinical-stage biopharmaceutical: A company focused on developing drugs that are still undergoing human clinical trials, not yet approved for sale.
Hereditary angioedema (HAE): A rare genetic disorder causing severe swelling in various body parts, often requiring specialized treatments.
Prophylactic: A treatment intended to prevent disease or symptoms, rather than treat them after they occur.
On-demand therapy: Medication taken as needed to treat symptoms when they appear, rather than on a regular schedule.
Bradykinin B2-receptor antagonist: A drug that blocks specific receptors to reduce swelling and pain, often used in rare disease treatments.
Pipeline: The portfolio of drug candidates a pharmaceutical company is developing at various stages before approval.
Phase I/II clinical trial: Early stages of human testing for new drugs, assessing safety (Phase I) and effectiveness (Phase II).
Reportable AUM: The portion of a fund's assets that must be disclosed to regulators, often under specific reporting rules.
TTM: The 12-month period ending with the most recent quarterly report.
Outperforming the S&P 500: Achieving a higher return than the S&P 500 index over a specific time period.

Eric Trie has no position in any of the stocks mentioned. The Motley Fool recommends DLocal and recommends the following options: long January 2027 $7 calls on DLocal and short January 2027 $10 calls on DLocal. The Motley Fool has a disclosure policy.