Palvella Therapeutics (NASDAQ:PVLA) Shares Up 6.4% – Here’s Why

Palvella Therapeutics, Inc. (NASDAQ:PVLA)’s share price traded up 6.4% during mid-day trading on Wednesday. The stock traded as high as $140.21 and last traded at $141.3590. Approximately 45,383 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 257,533 shares. The stock had previously closed at $132.91.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group set a $232.00 price objective on Palvella Therapeutics in a report on Wednesday, August 5th. HC Wainwright restated a “buy” rating on shares of Palvella Therapeutics in a report on Tuesday, October 20th. William Blair initiated coverage on shares of Palvella Therapeutics in a research note on Friday, October 16th. They issued an “outperform” rating on the stock. Raymond James Financial set a $226.00 price target on shares of Palvella Therapeutics in a report on Friday, October 16th. Finally, Chardan Capital reissued a “buy” rating and set a $240.00 price objective on shares of Palvella Therapeutics in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.79.

Palvella Therapeutics Stock Up 6.5%

The firm has a market capitalization of $2.04 billion, a P/E ratio of -29.53 and a beta of -0.27. The stock has a fifty day moving average of $141.42 and a 200-day moving average of $125.93.

Palvella Therapeutics (NASDAQ:PVLA) last announced its earnings results on Tuesday, August 4th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.35). Sell-side analysts predict that Palvella Therapeutics, Inc. will post -6.41 EPS for the current fiscal year.

Insider Transactions at Palvella Therapeutics

In other news, Director Christopher P. Kiritsy sold 313 shares of the business’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 sale, the director owned 250 shares of the company’s stock, valued at $39,250. The trade was a 55.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director George M. Jenkins sold 13,352 shares of the stock in a transaction on Monday, September 14th. The stock was 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 of the company’s stock, valued at $24,601,260.28. The trade was a 7.62% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 61,056 shares of company stock valued at $8,756,946 in the last ninety days. 17.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palvella Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. boosted its position in 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 during the period. Sterling Capital Management LLC increased its holdings in shares of Palvella Therapeutics by 907.7% in the third quarter. Sterling Capital Management LLC now owns 393 shares of the company’s stock valued at $54,000 after purchasing an additional 354 shares during the last quarter. Avior Wealth Management LLC bought a new position in shares of Palvella Therapeutics in the third quarter valued at about $212,000. Arizona State Retirement System raised its position in shares of Palvella Therapeutics by 30.9% in the second quarter. Arizona State Retirement System now owns 2,765 shares of the company’s stock valued at $423,000 after purchasing an additional 652 shares during the period. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Palvella Therapeutics during the 2nd quarter worth about $35,000. 40.11% of the stock is currently owned by institutional investors and hedge funds.

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.