Palvella Therapeutics (NASDAQ:PVLA) Trading 7.5% Higher – Here’s Why

Palvella Therapeutics, Inc. (NASDAQ:PVLA)’s share price traded up 7.5% during mid-day trading on Thursday . The stock traded as high as $140.25 and last traded at $139.6050. 40,963 shares were traded during trading, a decline of 85% from the average session volume of 276,917 shares. The stock had previously closed at $129.84.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wall Street Zen cut Palvella Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Stephens reissued an “overweight” rating and issued a $220.00 price target on shares of Palvella Therapeutics in a report on Thursday, May 21st. Chardan Capital restated a “buy” rating and issued a $240.00 price objective on shares of Palvella Therapeutics in a research report on Thursday, May 21st. BTIG Research increased their price objective on Palvella Therapeutics from $192.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, Mizuho lifted their price objective on Palvella Therapeutics from $205.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Palvella Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $199.53.

Palvella Therapeutics Stock Up 3.0%

The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -31.97 and a beta of -0.15. The company has a 50 day moving average of $118.25 and a 200 day moving average of $109.69.

Palvella Therapeutics (NASDAQ:PVLA) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.30). On average, research analysts forecast that Palvella Therapeutics, Inc. will post -5.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Palvella Therapeutics

In other news, COO Kathleen Goin sold 4,302 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $110.73, for a total transaction of $476,360.46. Following the transaction, the chief operating officer directly owned 2,154 shares in the company, valued at $238,512.42. This represents a 66.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Palvella Therapeutics

A number of large investors have recently bought and sold shares of the stock. First Light Asset Management LLC acquired a new position in shares of Palvella Therapeutics in the 3rd quarter valued at $33,949,000. Summit Partners Public Asset Management LLC increased its holdings in shares of Palvella Therapeutics by 1,016.0% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 389,420 shares of the company’s stock worth $40,761,000 after buying an additional 354,525 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Palvella Therapeutics by 202.0% during the 3rd quarter. Vanguard Group Inc. now owns 494,656 shares of the company’s stock worth $31,010,000 after buying an additional 330,847 shares during the last quarter. State Street Corp raised its position in shares of Palvella Therapeutics by 206.3% in the 4th quarter. State Street Corp now owns 420,462 shares of the company’s stock worth $44,010,000 after buying an additional 283,211 shares during the period. Finally, Jennison Associates LLC raised its position in shares of Palvella Therapeutics by 262.4% in the 4th quarter. Jennison Associates LLC now owns 387,483 shares of the company’s stock worth $40,558,000 after buying an additional 280,573 shares during the period. Hedge funds and other institutional investors own 40.11% of the company’s stock.

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.