Jennison Associates LLC Purchases 253,128 Shares of Palvella Therapeutics, Inc. $PVLA

Jennison Associates LLC grew its position in shares of Palvella Therapeutics, Inc. (NASDAQ:PVLA) by 65.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 640,611 shares of the company’s stock after acquiring an additional 253,128 shares during the quarter. Jennison Associates LLC’s holdings in Palvella Therapeutics were worth $79,852,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PVLA. Group One Trading LLC lifted its position in shares of Palvella Therapeutics by 151.5% in the fourth quarter. Group One Trading LLC now owns 332 shares of the company’s stock worth $35,000 after purchasing an additional 200 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Palvella Therapeutics in the third quarter valued at $36,000. China Universal Asset Management Co. Ltd. acquired a new stake in Palvella Therapeutics in the 4th quarter valued at $167,000. Keybank National Association OH acquired a new stake in Palvella Therapeutics in the 1st quarter valued at $228,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Palvella Therapeutics during the 4th quarter worth about $238,000. 40.11% of the stock is currently owned by institutional investors and hedge funds.

Palvella Therapeutics Price Performance

Shares of PVLA stock opened at $157.24 on Monday. The stock has a market cap of $2.25 billion, a P/E ratio of -37.71 and a beta of -0.20. The company has a fifty day moving average price of $125.26 and a two-hundred day moving average price of $115.40. Palvella Therapeutics, Inc. has a one year low of $29.38 and a one year high of $161.38.

Palvella Therapeutics (NASDAQ:PVLA) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.30). As a group, equities research analysts anticipate that Palvella Therapeutics, Inc. will post -5.26 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on PVLA shares. HC Wainwright increased their price objective on shares of Palvella Therapeutics from $255.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Chardan Capital reaffirmed a “buy” rating and issued a $240.00 target price on shares of Palvella Therapeutics in a research report on Thursday, May 21st. Wall Street Zen lowered Palvella Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Stephens reissued an “overweight” rating and set a $220.00 price target on shares of Palvella Therapeutics in a research report on Thursday, May 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Palvella Therapeutics in a research note on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Palvella Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $199.53.

Insider Transactions at Palvella Therapeutics

In related news, COO Kathleen Goin sold 4,302 shares of Palvella Therapeutics stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $110.73, for a total transaction of $476,360.46. Following the completion of the transaction, the chief operating officer owned 2,154 shares in the company, valued at approximately $238,512.42. This trade represents a 66.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 17.20% of the company’s stock.

Palvella Therapeutics Company Profile

Palvella Therapeutics, Inc (NASDAQ: PVLA) is a clinical?stage biopharmaceutical company devoted to the discovery and development of innovative therapies for immunological and inflammatory diseases. The company employs a proprietary small?molecule and biologics platform to identify and modulate key molecular pathways that drive neutrophil? and complement?mediated inflammation, aiming to deliver targeted treatment options for patients with significant unmet medical needs.

Palvella’s pipeline comprises several preclinical assets designed to address both prevalent chronic inflammatory conditions and rare autoinflammatory syndromes.