Palvella Therapeutics (NASDAQ:PVLA) Trading Down 12.4% – Here’s What Happened

Palvella Therapeutics, Inc. (NASDAQ:PVLA) shares were down 12.4% during mid-day trading on Monday . The company traded as low as $145.03 and last traded at $137.7250. 34,394 shares traded hands during trading, a decline of 88% from the average session volume of 282,164 shares. The stock had previously closed at $157.24.

Analysts Set New Price Targets

Several research analysts have weighed in on PVLA shares. 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Palvella Therapeutics in a report on Monday, June 29th. Wall Street Zen cut Palvella Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. HC Wainwright increased their price objective on Palvella Therapeutics from $255.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Finally, Stephens reaffirmed an “overweight” rating and set a $220.00 price objective on shares of Palvella Therapeutics in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $199.53.

Palvella Therapeutics Price Performance

The stock has a market capitalization of $1.94 billion, a P/E ratio of -32.58 and a beta of -0.20. The stock’s fifty day moving average is $125.26 and its 200-day moving average is $115.40.

Palvella Therapeutics (NASDAQ:PVLA) last posted its earnings results 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). On average, research analysts expect that Palvella Therapeutics, Inc. will post -5.26 EPS for the current year.

Insider Activity at Palvella Therapeutics

In other news, COO Kathleen Goin sold 4,302 shares of the 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 transaction, the chief operating officer owned 2,154 shares of the company’s stock, valued at approximately $238,512.42. This represents a 66.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 17.20% of the company’s stock.

Institutional Investors Weigh In On Palvella Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Group One Trading LLC boosted its position in Palvella Therapeutics by 151.5% during 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 during the period. KBC Group NV acquired a new position in Palvella Therapeutics during the first quarter valued at approximately $28,000. Price T Rowe Associates Inc. MD raised its position in shares of Palvella Therapeutics by 11.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,090 shares of the company’s stock valued at $429,000 after purchasing an additional 433 shares during the period. Bank of America Corp DE raised its position in shares of Palvella Therapeutics by 12.3% in the third quarter. Bank of America Corp DE now owns 4,689 shares of the company’s stock valued at $294,000 after purchasing an additional 515 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of Palvella Therapeutics by 8.7% in the fourth quarter. Deutsche Bank AG now owns 6,594 shares of the company’s stock worth $690,000 after buying an additional 528 shares during the last quarter. 40.11% of the stock is currently owned by institutional investors and hedge funds.

About Palvella Therapeutics

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.