Palvella Therapeutics (NASDAQ:PVLA) Director George Jenkins Sells 12,371 Shares

Palvella Therapeutics, Inc. (NASDAQ:PVLA) Director George Jenkins sold 12,371 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $151.28, for a total transaction of $1,871,484.88. Following the completion of the transaction, the director directly owned 175,245 shares in the company, valued at $26,511,063.60. This represents a 6.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Palvella Therapeutics Trading Down 0.3%

NASDAQ:PVLA opened at $151.22 on Wednesday. The firm has a market capitalization of $2.18 billion, a PE ratio of -31.31 and a beta of -0.25. The stock has a 50 day moving average of $149.13 and a 200-day moving average of $132.62. Palvella Therapeutics, Inc. has a 52 week low of $54.28 and a 52 week high of $161.38.

Palvella Therapeutics (NASDAQ:PVLA) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.35). As a group, analysts predict that Palvella Therapeutics, Inc. will post -6.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Truist Financial set a $207.00 target price on Palvella Therapeutics in a research note on Wednesday, August 5th. Chardan Capital upgraded shares of Palvella Therapeutics to a “strong-buy” rating in a research report on Tuesday, July 28th. HC Wainwright reaffirmed a “buy” rating and issued a $270.00 price objective on shares of Palvella Therapeutics in a report on Wednesday, July 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Palvella Therapeutics in a research report on Monday, June 29th. Finally, Stephens reissued an “overweight” rating and set a $220.00 target price on shares of Palvella Therapeutics in a research note on Thursday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $209.14.

Institutional Investors Weigh In On Palvella Therapeutics

Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Palvella Therapeutics during the 2nd quarter worth about $140,343,000. First Light Asset Management LLC increased its stake in shares of Palvella Therapeutics by 38.3% during the first quarter. First Light Asset Management LLC now owns 980,758 shares of the company’s stock valued at $122,251,000 after acquiring an additional 271,617 shares during the period. Jennison Associates LLC increased its stake in shares of Palvella Therapeutics by 65.3% during the first quarter. Jennison Associates LLC now owns 640,611 shares of the company’s stock valued at $79,852,000 after acquiring an additional 253,128 shares during the period. Summit Partners Public Asset Management LLC raised its holdings in Palvella Therapeutics by 1,016.0% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 389,420 shares of the company’s stock worth $40,761,000 after purchasing an additional 354,525 shares in the last quarter. Finally, Primecap Management Co. CA acquired a new stake in Palvella Therapeutics in the second quarter worth approximately $39,150,000. Institutional investors and hedge funds own 40.11% of the company’s stock.

Palvella Therapeutics Company Profile

Palvella Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for patients with rare genetic and dermatologic diseases. The company uses its proprietary QTORIN platform to formulate and deliver medicines locally to affected tissues, with the goal of improving treatment effectiveness while limiting systemic exposure.

Palvella’s lead program is QTORIN 3.9% rapamycin, an investigational topical gel being developed for microcystic lymphatic malformations, rare lesions caused by abnormalities in the lymphatic system.