HC Wainwright Initiates Coverage on Palvella Therapeutics (NASDAQ:PVLA)

Equities researchers at HC Wainwright began coverage on shares of Palvella Therapeutics (NASDAQ:PVLA) in a research report issued on Friday, Zacks reports. The firm set a “strong-buy” rating on the stock.

Other research analysts also recently issued reports about the company. William Blair assumed coverage on Palvella Therapeutics in a report on Friday, October 16th. They set an “outperform” rating on the stock. Truist Financial set a $207.00 price objective on Palvella Therapeutics in a research report on Wednesday, August 5th. Chardan Capital reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Palvella Therapeutics in a research note on Wednesday, October 28th. Canaccord Genuity Group set a $232.00 target price on Palvella Therapeutics in a report on Wednesday, August 5th. Finally, Oppenheimer increased their target price on shares of Palvella Therapeutics from $210.00 to $232.00 and gave the company an “outperform” rating in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $213.00.

Palvella Therapeutics Stock Up 12.2%

Shares of PVLA stock traded up $19.07 on Friday, reaching $175.92. The company had a trading volume of 502,014 shares, compared to its average volume of 237,190. Palvella Therapeutics has a one year low of $72.22 and a one year high of $176.94. The stock has a market capitalization of $2.54 billion, a PE ratio of -31.99 and a beta of -0.21. The business’s 50-day moving average is $142.54 and its 200 day moving average is $128.12.

Palvella Therapeutics (NASDAQ:PVLA) last released its quarterly earnings data on Thursday, November 5th. The company reported ($1.70) earnings per share for the quarter, beating the consensus estimate of ($1.78) by $0.08. On average, sell-side analysts forecast that Palvella Therapeutics will post -6.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palvella Therapeutics news, Director George Jenkins sold 13,352 shares of the company’s stock in a transaction 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 transaction, the director owned 161,893 shares in the company, valued at approximately $24,601,260.28. This represents a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher Kiritsy sold 313 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $157.00, for a total transaction of $49,141.00. Following the sale, the director directly owned 250 shares of the company’s stock, valued at approximately $39,250. The trade was a 55.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,056 shares of company stock worth $8,756,946 in the last ninety days. Corporate insiders own 17.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PVLA. KBC Group NV bought a new position in Palvella Therapeutics during the first quarter worth about $28,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Palvella Therapeutics in the 2nd quarter valued at about $35,000. Sterling Capital Management LLC raised its holdings in shares of Palvella Therapeutics by 907.7% in the 3rd quarter. Sterling Capital Management LLC now owns 393 shares of the company’s stock valued at $54,000 after acquiring an additional 354 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Palvella Therapeutics by 31.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,783 shares of the company’s stock worth $248,000 after purchasing an additional 426 shares in the last quarter. Finally, Archer Investment Corp purchased a new position in shares of Palvella Therapeutics during the second quarter worth about $69,000. 40.11% of the stock is owned by institutional investors.

Palvella Therapeutics Company Profile

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.