Palvella Therapeutics (NASDAQ:PVLA) Sees Strong Trading Volume – Time to Buy?

Palvella Therapeutics, Inc. (NASDAQ:PVLA) shares saw unusually-strong trading volume on Tuesday . Approximately 138,112 shares were traded during trading, an increase of 9% from the previous session’s volume of 126,690 shares.The stock last traded at $94.20 and had previously closed at $94.53.

Analysts Set New Price Targets

Several brokerages have recently commented on PVLA. TD Cowen boosted their price target on Palvella Therapeutics from $65.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Chardan Capital reiterated a “buy” rating and set a $110.00 target price on shares of Palvella Therapeutics in a research report on Thursday, November 13th. Oppenheimer reissued an “outperform” rating on shares of Palvella Therapeutics in a report on Tuesday, November 11th. Canaccord Genuity Group lifted their price target on Palvella Therapeutics from $90.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Finally, Lifesci Capital assumed coverage on shares of Palvella Therapeutics in a research report on Monday, August 4th. They issued an “outperform” rating and a $90.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $117.33.

Palvella Therapeutics Trading Down 4.4%

The company’s 50 day simple moving average is $76.98 and its 200 day simple moving average is $50.50. The stock has a market capitalization of $1.07 billion, a PE ratio of -34.37 and a beta of -0.20.

Palvella Therapeutics (NASDAQ:PVLA) last posted its quarterly earnings data on Monday, November 10th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.18). As a group, analysts predict that Palvella Therapeutics, Inc. will post -3.69 EPS for the current year.

Insider Buying and Selling

In other Palvella Therapeutics news, COO Kathleen Goin sold 4,302 shares of Palvella Therapeutics stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $86.23, for a total value of $370,961.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 20.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palvella Therapeutics

Several hedge funds have recently modified their holdings of PVLA. Archer Investment Corp acquired a new position in Palvella Therapeutics during the third quarter worth approximately $28,000. Bank of America Corp DE grew its stake in shares of Palvella Therapeutics by 12.3% during the 3rd quarter. Bank of America Corp DE now owns 4,689 shares of the company’s stock valued at $294,000 after buying an additional 515 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Palvella Therapeutics during the 3rd quarter valued at $36,000. JPMorgan Chase & Co. increased its holdings in shares of Palvella Therapeutics by 33.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,338 shares of the company’s stock worth $272,000 after buying an additional 1,093 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Palvella Therapeutics in the 2nd quarter worth $37,000. 40.11% of the stock is owned by institutional investors and hedge funds.

Palvella Therapeutics Company Profile

Palvella Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to treat patients suffering from serious, rare genetic skin diseases. Palvella Therapeutics Inc, formerly known as Pieris Pharmaceuticals Inc, is based in WAYNE, Pa.