Palvella Therapeutics (NASDAQ:PVLA) Price Target Cut to $246.00 by Analysts at HC Wainwright

Palvella Therapeutics (NASDAQ:PVLA) had its price target trimmed by HC Wainwright from $270.00 to $246.00 in a research note issued to investors on Monday, Marketbeat reports. The brokerage currently has a buy rating on the stock.

Several other research firms also recently commented on PVLA. Truist Financial set a $207.00 target price on shares of Palvella Therapeutics in a research report on Wednesday, August 5th. Chardan Capital initiated coverage on shares of Palvella Therapeutics in a research report on Monday, September 21st. They issued a “buy” rating and a $240.00 price target on the stock. Canaccord Genuity Group set a $232.00 price target on Palvella Therapeutics in a research note on Wednesday, August 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Palvella Therapeutics in a research note on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $207.43.

Palvella Therapeutics Trading Down 3.2%

NASDAQ PVLA opened at $134.38 on Monday. The company has a fifty day simple moving average of $147.86 and a 200 day simple moving average of $134.23. Palvella Therapeutics has a 12-month low of $66.58 and a 12-month high of $161.38. The company has a market cap of $1.94 billion, a P/E ratio of -27.82 and a beta of -0.27.

Palvella Therapeutics (NASDAQ:PVLA) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($1.52) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.35). Sell-side analysts predict that Palvella Therapeutics will post -6.40 EPS for the current year.

Insider Buying and Selling at Palvella Therapeutics

In other news, Director Christopher P. Kiritsy sold 313 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $157.00, for a total value of $49,141.00. Following the completion of the sale, the director owned 250 shares in the company, valued at $39,250. This represents a 55.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Kathleen Goin sold 4,302 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $152.21, for a total transaction of $654,807.42. Following the completion of the sale, the chief operating officer owned 2,154 shares of the company’s stock, valued at approximately $327,860.34. This represents a 66.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 36,417 shares of company stock worth $5,526,138. Corporate insiders own 17.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PVLA. KBC Group NV bought a new position in Palvella Therapeutics in the 1st quarter valued at $28,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Palvella Therapeutics during the 2nd quarter worth $35,000. Archer Investment Corp bought a new stake in shares of Palvella Therapeutics during the 2nd quarter worth $69,000. Quantbot Technologies LP bought a new stake in shares of Palvella Therapeutics during the 2nd quarter worth $71,000. Finally, State of Wyoming purchased a new position in shares of Palvella Therapeutics in the 2nd quarter worth about $134,000. 40.11% of the stock is currently owned by hedge funds and other institutional investors.

About Palvella Therapeutics

Palvella Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for patients with rare and serious diseases. The company’s work centers on localized treatments intended to address conditions for which existing therapeutic options are limited.

Palvella’s lead investigational product is QTORIN 3.9%, a topical formulation of sirolimus designed to deliver the medicine directly to affected areas of the skin. The product is being developed for microcystic lymphatic malformations, rare vascular anomalies that can cause swelling, pain and disfigurement.