Nan Fung Trinity HK Ltd. Acquires New Stake in Palvella Therapeutics, Inc. $PVLA

Nan Fung Trinity HK Ltd. bought a new stake in shares of Palvella Therapeutics, Inc. (NASDAQ:PVLA) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 52,630 shares of the company’s stock, valued at approximately $7,259,000. Nan Fung Trinity HK Ltd. owned 0.37% of Palvella Therapeutics as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PVLA. KBC Group NV acquired a new position in shares of Palvella Therapeutics in the first quarter worth $28,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Palvella Therapeutics during the second quarter valued at $35,000. Sterling Capital Management LLC boosted its position in Palvella Therapeutics by 907.7% during 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. 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 valued at $248,000 after purchasing an additional 426 shares during the last quarter. Finally, Archer Investment Corp purchased a new position in Palvella Therapeutics in the second quarter valued at about $69,000. Hedge funds and other institutional investors own 40.11% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Chardan Capital reaffirmed a “buy” rating and issued a $240.00 target price on shares of Palvella Therapeutics in a research report on Wednesday, October 28th. Raymond James Financial set a $226.00 price target on Palvella Therapeutics in a report on Friday, October 16th. Canaccord Genuity Group lifted their price target on Palvella Therapeutics from $232.00 to $243.00 and gave the company a “buy” rating in a report on Monday. Oppenheimer boosted their price target on Palvella Therapeutics from $210.00 to $232.00 and gave the company an “outperform” rating in a research note on Friday, November 6th. Finally, HC Wainwright assumed coverage on Palvella Therapeutics in a report on Friday, November 6th. They issued a “strong-buy” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Palvella Therapeutics has a consensus rating of “Buy” and an average price target of $213.85.

Palvella Therapeutics Price Performance

Shares of PVLA stock opened at $153.18 on Friday. The stock’s 50 day simple moving average is $143.62 and its 200 day simple moving average is $129.63. Palvella Therapeutics, Inc. has a twelve month low of $72.22 and a twelve month high of $179.95.

Palvella Therapeutics (NASDAQ:PVLA) last posted its earnings results on Thursday, November 5th. The company reported ($1.70) earnings per share for the quarter, topping the consensus estimate of ($1.78) by $0.08. Analysts anticipate that Palvella Therapeutics, Inc. will post -6.29 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Christopher 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 completion of the sale, the director directly owned 250 shares in the company, valued at approximately $39,250. The trade was a 55.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George Jenkins sold 13,352 shares of the business’s 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 completion of the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 67,306 shares of company stock worth $9,800,571. 17.20% of the stock is owned by company insiders.

Palvella Therapeutics Company Profile

Palvella Therapeutics is a clinical-stage biopharmaceutical company developing treatments for patients with rare and serious diseases, with a focus on conditions affecting the skin and related tissues. The company is based in Wayne, Pennsylvania. Its pipeline includes QTORIN-based topical drug candidates, which use the company’s platform to deliver medicines locally to affected tissue. Programs are being developed for conditions including microcystic lymphatic malformations and cutaneous venous malformations; these candidates are investigational and have not been established as approved treatments.