Short Interest in Palvella Therapeutics, Inc. (NASDAQ:PVLA) Increases By 22.2%

Palvella Therapeutics, Inc. (NASDAQ:PVLA) was the recipient of a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 1,674,747 shares, a growth of 22.2% from the January 29th total of 1,370,113 shares. Approximately 17.8% of the company’s stock are short sold. Based on an average daily trading volume, of 305,933 shares, the days-to-cover ratio is presently 5.5 days. Based on an average daily trading volume, of 305,933 shares, the days-to-cover ratio is presently 5.5 days. Approximately 17.8% of the company’s stock are short sold.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PVLA. BTIG Research raised their price objective on Palvella Therapeutics from $192.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Stifel Nicolaus set a $250.00 price target on Palvella Therapeutics in a research report on Tuesday, February 24th. Chardan Capital boosted their price objective on shares of Palvella Therapeutics from $174.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Raymond James Financial reiterated a “strong-buy” rating and set a $193.00 target price on shares of Palvella Therapeutics in a research note on Tuesday, December 16th. Finally, Truist Financial set a $210.00 price target on Palvella Therapeutics in a research note on Tuesday, February 24th. Two analysts have 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. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $176.44.

Palvella Therapeutics Stock Up 3.0%

NASDAQ:PVLA traded up $3.98 on Wednesday, hitting $135.49. The stock had a trading volume of 283,027 shares, compared to its average volume of 327,334. The business’s 50-day simple moving average is $95.63 and its two-hundred day simple moving average is $81.70. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of -51.52 and a beta of -0.30. Palvella Therapeutics has a 52-week low of $18.23 and a 52-week high of $151.18.

Insider Buying and Selling

In other Palvella Therapeutics news, Director George M. Jenkins purchased 4,000 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The stock was bought at an average cost of $125.00 per share, for a total transaction of $500,000.00. Following the purchase, the director directly owned 187,171 shares in the company, valued at $23,396,375. The trade was a 2.18% increase 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. Also, Director Elaine J. Heron acquired 2,400 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The shares were acquired at an average cost of $125.00 per share, for a total transaction of $300,000.00. Following the purchase, the director directly owned 47,812 shares of the company’s stock, valued at $5,976,500. This represents a 5.28% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 20.50% of the stock is owned by company insiders.

Institutional Trading of Palvella Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its stake in shares of Palvella Therapeutics by 11.6% during the 4th quarter. Invesco Ltd. now owns 54,273 shares of the company’s stock worth $5,681,000 after acquiring an additional 5,663 shares during the last quarter. XTX Topco Ltd bought a new position in Palvella Therapeutics in the 4th quarter worth $429,000. Virtus Investment Advisers LLC bought a new position in Palvella Therapeutics in the 4th quarter worth $282,000. Superstring Capital Management LP purchased a new position in Palvella Therapeutics during the fourth quarter valued at $2,666,000. Finally, Suvretta Capital Management LLC lifted its position in Palvella Therapeutics by 8.5% during the fourth quarter. Suvretta Capital Management LLC now owns 892,400 shares of the company’s stock valued at $93,408,000 after purchasing an additional 70,000 shares in the last quarter. 40.11% of the stock is owned by hedge funds and other institutional investors.

Palvella Therapeutics Company Profile

Palvella Therapeutics, Inc (NASDAQ: PVLA) is a clinical‐stage biopharmaceutical company devoted to the discovery and development of innovative therapies for immunological and inflammatory diseases. The company employs a proprietary small‐molecule and biologics platform to identify and modulate key molecular pathways that drive neutrophil‐ and complement‐mediated inflammation, aiming to deliver targeted treatment options for patients with significant unmet medical needs.

Palvella’s pipeline comprises several preclinical assets designed to address both prevalent chronic inflammatory conditions and rare autoinflammatory syndromes.