George M. Jenkins Purchases 2,500 Shares of Palvella Therapeutics (NASDAQ:PVLA) Stock

Palvella Therapeutics (NASDAQ:PVLA) Director George M. Jenkins purchased 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 9th. The shares were bought at an average price of $20.13 per share, with a total value of $50,325.00. Following the acquisition, the director now directly owns 183,171 shares of the company’s stock, valued at $3,687,232.23. This represents a 1.38 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Palvella Therapeutics Trading Down 8.9 %

Palvella Therapeutics stock opened at $19.87 on Friday. The firm has a 50 day moving average price of $22.41. Palvella Therapeutics has a 12 month low of $6.20 and a 12 month high of $29.27. The stock has a market capitalization of $218.95 million, a P/E ratio of -1.64 and a beta of 0.10.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC bought a new stake in Palvella Therapeutics in the 4th quarter valued at about $125,000. Toronto Dominion Bank bought a new stake in shares of Palvella Therapeutics in the fourth quarter valued at approximately $159,000. Geode Capital Management LLC purchased a new stake in shares of Palvella Therapeutics during the 4th quarter valued at approximately $171,000. Cresset Asset Management LLC bought a new position in Palvella Therapeutics in the 4th quarter worth approximately $251,000. Finally, Renaissance Technologies LLC purchased a new position in Palvella Therapeutics in the 4th quarter valued at approximately $256,000. Hedge funds and other institutional investors own 40.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $39.00 price objective on shares of Palvella Therapeutics in a report on Wednesday, February 26th. Cantor Fitzgerald began coverage on shares of Palvella Therapeutics in a research report on Wednesday, December 18th. They issued an “overweight” rating for the company. Stifel Nicolaus assumed coverage on shares of Palvella Therapeutics in a research report on Wednesday, March 26th. They set a “buy” rating and a $45.00 target price on the stock. Scotiabank initiated coverage on Palvella Therapeutics in a report on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 target price for the company. Finally, TD Cowen initiated coverage on Palvella Therapeutics in a report on Wednesday, February 5th. They set a “buy” rating and a $44.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $44.43.

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.