Palvella Therapeutics, Inc. (NASDAQ:PVLA) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Shares of Palvella Therapeutics, Inc. (NASDAQ:PVLA) have been given an average rating of “Moderate Buy” by the fifteen brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $209.14.

Several brokerages have recently issued reports on PVLA. Chardan Capital assumed coverage on Palvella Therapeutics in a research note 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 objective on Palvella Therapeutics in a research report on Wednesday, August 5th. HC Wainwright reaffirmed a “buy” rating and issued a $270.00 price objective on shares of Palvella Therapeutics in a research note on Wednesday, July 22nd. Truist Financial set a $207.00 price objective 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 report on Friday, September 25th.

Palvella Therapeutics Price Performance

Shares of NASDAQ:PVLA opened at $132.47 on Friday. The company’s 50 day simple moving average is $149.10 and its 200 day simple moving average is $133.47. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -27.43 and a beta of -0.27. Palvella Therapeutics has a 1 year low of $61.73 and a 1 year high of $161.38.

Palvella Therapeutics (NASDAQ:PVLA) last released its earnings results on Tuesday, August 4th. The company reported ($1.52) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.35). As a group, analysts anticipate that Palvella Therapeutics will post -6.36 EPS for the current fiscal year.

Insider Activity

In other news, Director Christopher Kiritsy sold 313 shares of the firm’s stock in a transaction that occurred 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 sale, the director directly owned 250 shares in the company, valued at approximately $39,250. This trade represents a 55.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Kathleen Goin sold 4,302 shares of Palvella Therapeutics stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $152.24, for a total transaction of $654,936.48. Following the sale, the chief operating officer directly owned 2,154 shares in the company, valued at $327,924.96. This trade represents a 66.64% 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. 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 Trading of Palvella Therapeutics

A number of hedge funds have recently added to or reduced their stakes in PVLA. First Light Asset Management LLC grew its position in Palvella Therapeutics by 38.3% during the 1st quarter. First Light Asset Management LLC now owns 980,758 shares of the company’s stock worth $122,251,000 after acquiring an additional 271,617 shares during the last quarter. BlackRock Inc. bought a new position in Palvella Therapeutics in the second quarter valued at about $140,343,000. Jennison Associates LLC raised its position in 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 purchasing an additional 253,128 shares during the last quarter. Summit Partners Public Asset Management LLC boosted its stake in shares of 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 purchasing an additional 354,525 shares in the last quarter. Finally, Siren L.L.C. boosted its stake in shares of 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 purchasing an additional 182,485 shares in the last quarter. Institutional investors and hedge funds own 40.11% of the company’s stock.

Palvella Therapeutics Company Profile

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.