Insider Selling: Palvella Therapeutics (NASDAQ:PVLA) COO Sells 4,302 Shares

Palvella Therapeutics, Inc. (NASDAQ:PVLA) COO Kathleen Goin sold 4,302 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $152.24, for a total value of $654,936.48. Following the transaction, the chief operating officer directly owned 2,154 shares in the company, valued at approximately $327,924.96. This represents a 66.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kathleen Goin also recently made the following trade(s):

• On Wednesday, August 19th, Kathleen Goin sold 4,302 shares of Palvella Therapeutics stock. The stock was sold at an average price of $152.21, for a total value of $654,807.42.

Palvella Therapeutics Stock Performance

Shares of NASDAQ PVLA traded down $3.76 during trading on Friday, reaching $150.56. The stock had a trading volume of 633,630 shares, compared to its average volume of 264,656. The stock has a market cap of $2.17 billion, a PE ratio of -31.17 and a beta of -0.25. Palvella Therapeutics, Inc. has a one year low of $56.22 and a one year high of $161.38. The firm’s 50 day moving average price is $149.32 and its two-hundred day moving average price is $132.77.

Palvella Therapeutics (NASDAQ:PVLA) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.35). On average, research analysts expect that Palvella Therapeutics, Inc. will post -6.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PVLA. 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. Canaccord Genuity Group set a $232.00 target price on Palvella Therapeutics in a report on Wednesday, August 5th. Truist Financial set a $207.00 price target on Palvella Therapeutics in a research report on Wednesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Palvella Therapeutics in a report on Monday, June 29th. Finally, HC Wainwright restated a “buy” rating and set a $270.00 price objective on shares of Palvella Therapeutics in a research report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Palvella Therapeutics currently has an average rating of “Buy” and a consensus price target of $209.14.

Hedge Funds Weigh In On Palvella Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Light Asset Management LLC lifted its position in Palvella Therapeutics by 38.3% in the first quarter. First Light Asset Management LLC now owns 980,758 shares of the company’s stock worth $122,251,000 after purchasing an additional 271,617 shares during the period. BlackRock Inc. bought a new stake in shares of Palvella Therapeutics in the 2nd quarter worth $140,343,000. Jennison Associates LLC lifted its holdings in shares of Palvella Therapeutics by 65.3% in the first quarter. Jennison Associates LLC now owns 640,611 shares of the company’s stock valued at $79,852,000 after buying an additional 253,128 shares during the period. Summit Partners Public Asset Management LLC boosted its stake in 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 valued at $40,761,000 after buying an additional 354,525 shares in the last quarter. Finally, Siren L.L.C. boosted its stake in Palvella Therapeutics by 243.3% during the first quarter. Siren L.L.C. now owns 257,485 shares of the company’s stock valued at $32,096,000 after buying an additional 182,485 shares in the last quarter. 40.11% of the stock is currently owned by institutional investors and hedge funds.

Palvella Therapeutics Company Profile

Palvella Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for patients with rare genetic and dermatologic diseases. The company uses its proprietary QTORIN platform to formulate and deliver medicines locally to affected tissues, with the goal of improving treatment effectiveness while limiting systemic exposure.

Palvella’s lead program is QTORIN 3.9% rapamycin, an investigational topical gel being developed for microcystic lymphatic malformations, rare lesions caused by abnormalities in the lymphatic system.