Palvella Therapeutics (NASDAQ:PVLA) Shares Up 5.7% – Here’s Why

Palvella Therapeutics, Inc. (NASDAQ:PVLA)’s stock price was up 5.7% during trading on Friday . The company traded as high as $157.35 and last traded at $156.2260. 45,524 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 282,512 shares. The stock had previously closed at $147.77.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PVLA shares. Chardan Capital reissued a “buy” rating and set a $240.00 price target on shares of Palvella Therapeutics in a report on Thursday, May 21st. Stephens reaffirmed an “overweight” rating and issued a $220.00 price objective on shares of Palvella Therapeutics in a report on Thursday, May 21st. Wall Street Zen downgraded Palvella Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. HC Wainwright raised their target price on Palvella Therapeutics from $255.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Palvella Therapeutics in a research note on Monday, June 29th. One equities 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $199.53.

Palvella Therapeutics Stock Performance

The company has a market capitalization of $2.22 billion, a P/E ratio of -36.91 and a beta of -0.20. The stock has a fifty day moving average of $124.54 and a 200 day moving average of $115.00.

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

Insider Buying and Selling

In other Palvella Therapeutics news, COO Kathleen Goin sold 4,302 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $110.73, for a total transaction of $476,360.46. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 17.20% of the company’s stock.

Institutional Trading of Palvella Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of PVLA. Jennison Associates LLC increased its stake in Palvella Therapeutics by 262.4% in the 4th 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. Profund Advisors LLC purchased a new position in shares of Palvella Therapeutics in the fourth quarter valued at about $608,000. Vanguard Group Inc. boosted its stake in shares of Palvella Therapeutics by 13.3% in the fourth quarter. Vanguard Group Inc. now owns 560,616 shares of the company’s stock worth $58,680,000 after acquiring an additional 65,960 shares during the period. Emerald Advisers LLC purchased a new stake in shares of Palvella Therapeutics during the first quarter worth about $20,131,000. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of Palvella Therapeutics during the fourth quarter worth about $4,341,000. 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.