Palvella Therapeutics (NASDAQ:PVLA) Shares Gap Down – Here’s What Happened

Palvella Therapeutics, Inc. (NASDAQ:PVLA)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $152.82, but opened at $138.58. Palvella Therapeutics shares last traded at $140.9660, with a volume of 6,917 shares.

Analyst Ratings Changes

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

Palvella Therapeutics Stock Up 2.0%

The company has a market cap of $2.02 billion, a P/E ratio of -33.79 and a beta of -0.20. The firm’s 50 day moving average is $120.03 and its two-hundred day moving average is $111.35.

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

Insiders Place Their Bets

In other news, COO Kathleen Goin sold 4,302 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $110.73, for a total value of $476,360.46. Following the completion of the transaction, the chief operating officer directly owned 2,154 shares of the company’s stock, valued at $238,512.42. This represents a 66.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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.

Institutional Trading of Palvella Therapeutics

A number of large investors have recently bought and sold shares of PVLA. First Light Asset Management LLC purchased a new position in shares of Palvella Therapeutics during the 3rd quarter valued at $33,949,000. Summit Partners Public Asset Management LLC raised its stake in Palvella Therapeutics by 1,016.0% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 389,420 shares of the company’s stock valued at $40,761,000 after acquiring an additional 354,525 shares during the period. Vanguard Group Inc. lifted its holdings in Palvella Therapeutics by 202.0% during the third quarter. Vanguard Group Inc. now owns 494,656 shares of the company’s stock valued at $31,010,000 after purchasing an additional 330,847 shares during the last quarter. State Street Corp lifted its holdings in Palvella Therapeutics by 206.3% during the fourth quarter. State Street Corp now owns 420,462 shares of the company’s stock valued at $44,010,000 after purchasing an additional 283,211 shares during the last quarter. Finally, Jennison Associates LLC boosted 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 purchasing an additional 280,573 shares during the period. 40.11% of the stock is owned by hedge funds and other institutional investors.

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.