Palvella Therapeutics (NASDAQ:PVLA) Shares Down 7.8% – Here’s Why

Palvella Therapeutics, Inc. (NASDAQ:PVLA) shares dropped 7.8% during mid-day trading on Friday . The company traded as low as $84.66 and last traded at $84.91. Approximately 136,058 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 203,700 shares. The stock had previously closed at $92.08.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PVLA. BTIG Research restated a “buy” rating and issued a $192.00 price target on shares of Palvella Therapeutics in a research note on Friday, January 16th. Mizuho assumed coverage on shares of Palvella Therapeutics in a report on Wednesday, January 7th. They set an “outperform” rating and a $205.00 price objective for the company. TD Cowen restated a “buy” rating on shares of Palvella Therapeutics in a research note on Tuesday, December 16th. Chardan Capital lifted their price target on Palvella Therapeutics from $110.00 to $174.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Finally, Canaccord Genuity Group boosted their price objective on Palvella Therapeutics from $148.00 to $204.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $158.69.

Palvella Therapeutics Stock Down 7.1%

The firm’s 50 day moving average is $97.34 and its two-hundred day moving average is $69.96. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -32.53 and a beta of -0.16.

Palvella Therapeutics (NASDAQ:PVLA) last issued its earnings results on Monday, November 10th. The company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.18). On average, analysts anticipate that Palvella Therapeutics, Inc. will post -3.69 EPS for the current fiscal year.

Insider Buying and Selling

In other Palvella Therapeutics news, COO Kathleen Goin sold 4,302 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $96.47, for a total value of $415,013.94. The sale was disclosed in a document filed with the SEC, which is available through this link. 20.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Palvella Therapeutics

Several institutional investors have recently modified their holdings of the company. Archer Investment Corp acquired a new stake in shares of Palvella Therapeutics in the 3rd quarter worth about $28,000. Russell Investments Group Ltd. bought a new position in Palvella Therapeutics in the 3rd quarter worth about $36,000. Police & Firemen s Retirement System of New Jersey bought a new position in Palvella Therapeutics in the 2nd quarter worth about $37,000. AlphaQuest LLC acquired a new stake in shares of Palvella Therapeutics in the third quarter valued at approximately $164,000. Finally, SG Americas Securities LLC bought a new stake in shares of Palvella Therapeutics during the fourth quarter valued at approximately $281,000. Institutional investors own 40.11% of the company’s stock.

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.