Palvella Therapeutics (NASDAQ:PVLA) Sets New 12-Month High – Here’s What Happened

Palvella Therapeutics, Inc. (NASDAQ:PVLA) hit a new 52-week high during trading on Wednesday. The stock traded as high as $162.31 and last traded at $162.51, with a volume of 132,908 shares. The stock had previously closed at $152.93.

Analysts Set New Price Targets

A number of research firms recently weighed in on PVLA. William Blair started coverage on Palvella Therapeutics in a report on Friday, October 16th. They set an “outperform” rating on the stock. Oppenheimer upped their price objective on shares of Palvella Therapeutics from $210.00 to $232.00 and gave the company an “outperform” rating in a report on Friday. Chardan Capital restated a “buy” rating and set a $240.00 target price on shares of Palvella Therapeutics in a research note on Wednesday, October 28th. HC Wainwright reaffirmed a “buy” rating on shares of Palvella Therapeutics in a report on Tuesday, October 20th. Finally, Truist Financial set a $207.00 price objective on shares of Palvella Therapeutics in a research report on Wednesday, August 5th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $213.00.

Palvella Therapeutics Price Performance

The company has a market cap of $2.53 billion, a P/E ratio of -36.42 and a beta of -0.21. The stock has a 50-day moving average of $142.03 and a 200 day moving average of $127.73.

Palvella Therapeutics (NASDAQ:PVLA) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($1.70) EPS for the quarter, beating the consensus estimate of ($1.78) by $0.08. Sell-side analysts predict that Palvella Therapeutics, Inc. will post -6.39 EPS for the current year.

Insiders Place Their Bets

In other news, COO Kathleen Goin sold 4,313 shares of the stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $124.58, for a total value of $537,313.54. Following the completion of the transaction, the chief operating officer owned 2,165 shares of the company’s stock, valued at approximately $269,715.70. This represents a 66.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George Jenkins sold 13,352 shares of Palvella Therapeutics stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $151.96, for a total transaction of $2,028,969.92. Following the sale, the director directly owned 161,893 shares in the company, valued at $24,601,260.28. This trade represents a 7.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 61,056 shares of company stock valued at $8,756,946. 17.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Palvella Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. First Light Asset Management LLC increased its stake in shares of Palvella Therapeutics by 38.3% in the first quarter. First Light Asset Management LLC now owns 980,758 shares of the company’s stock valued at $122,251,000 after buying an additional 271,617 shares during the period. BlackRock Inc. bought a new position in shares of Palvella Therapeutics during the second quarter worth about $140,343,000. Jennison Associates LLC lifted its stake 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 worth $79,852,000 after acquiring an additional 253,128 shares during the period. Siren L.L.C. lifted its stake in shares of Palvella Therapeutics by 243.3% in the first quarter. Siren L.L.C. now owns 257,485 shares of the company’s stock worth $32,096,000 after acquiring an additional 182,485 shares during the period. Finally, Primecap Management Co. CA bought a new stake in Palvella Therapeutics in the second quarter valued at approximately $39,150,000. Institutional investors and hedge funds own 40.11% of the company’s stock.

About Palvella Therapeutics

Palvella Therapeutics, Inc (NASDAQ: PVLA) is a clinical-stage biopharmaceutical company focused on developing treatments for patients with serious rare diseases, including conditions that may have limited or no approved therapeutic options.

The company’s development programs are based on its QTORIN 3.0 technology platform, which is designed to deliver medicines locally through topical formulations. Palvella has applied the platform to investigational therapies for rare genetic skin disorders and other localized diseases, with the goal of improving treatment effectiveness while limiting systemic exposure.

Palvella is headquartered in Wayne, Pennsylvania, and conducts research and development activities aimed at serving rare-disease patients in the United States and other potential international markets.