Palvella Therapeutics (NASDAQ:PVLA) Shares Gap Up – Still a Buy?

Palvella Therapeutics, Inc. (NASDAQ:PVLA) gapped up prior to trading on Thursday . The stock had previously closed at $104.67, but opened at $114.50. Palvella Therapeutics shares last traded at $113.2750, with a volume of 4,910 shares traded.

Wall Street Analysts Forecast Growth

PVLA has been the subject of several recent analyst reports. BTIG Research increased their price target on Palvella Therapeutics from $192.00 to $215.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Chardan Capital reiterated a “buy” rating and issued a $240.00 price target on shares of Palvella Therapeutics in a research report on Thursday, May 21st. Stephens reiterated an “overweight” rating and issued a $220.00 price target on shares of Palvella Therapeutics in a research report on Thursday, May 21st. Stifel Nicolaus set a $250.00 price objective on Palvella Therapeutics in a research report on Tuesday, February 24th. Finally, HC Wainwright raised their price objective on Palvella Therapeutics from $255.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $199.53.

Palvella Therapeutics Trading Down 5.4%

The company has a market cap of $1.56 billion, a price-to-earnings ratio of -26.06 and a beta of -0.15. The company has a fifty day moving average price of $120.70 and a two-hundred day moving average price of $107.90.

Palvella Therapeutics (NASDAQ:PVLA) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($1.20) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.30). Sell-side analysts anticipate that Palvella Therapeutics, Inc. will post -5.26 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Kathleen Goin sold 4,302 shares of the company’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $117.99, for a total value of $507,592.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 20.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PVLA. First Light Asset Management LLC acquired a new position in Palvella Therapeutics during the third quarter valued at approximately $33,949,000. Summit Partners Public Asset Management LLC increased its stake in shares of Palvella Therapeutics by 1,016.0% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 389,420 shares of the company’s stock worth $40,761,000 after purchasing an additional 354,525 shares during the period. Vanguard Group Inc. grew its position in Palvella Therapeutics by 202.0% during the third quarter. Vanguard Group Inc. now owns 494,656 shares of the company’s stock worth $31,010,000 after buying an additional 330,847 shares in the last quarter. State Street Corp grew its position in Palvella Therapeutics by 206.3% during the fourth quarter. State Street Corp now owns 420,462 shares of the company’s stock worth $44,010,000 after buying an additional 283,211 shares in the last quarter. Finally, Jennison Associates LLC grew its position in Palvella Therapeutics by 262.4% during the fourth quarter. Jennison Associates LLC now owns 387,483 shares of the company’s stock worth $40,558,000 after buying an additional 280,573 shares in the last quarter. 40.11% of the stock is 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.