Palvella Therapeutics (NASDAQ:PVLA) Earns Buy Rating from Analysts at Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of Palvella Therapeutics (NASDAQ:PVLA) in a report issued on Thursday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $39.00 price objective on the stock.

A number of other equities analysts also recently issued reports on PVLA. TD Cowen assumed coverage on Palvella Therapeutics in a research note on Wednesday, February 5th. They set a “buy” rating and a $44.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $38.00 price target on shares of Palvella Therapeutics in a research note on Tuesday, February 11th. Finally, Cantor Fitzgerald assumed coverage on Palvella Therapeutics in a research note on Wednesday, December 18th. They issued an “overweight” rating on the stock.

Palvella Therapeutics Price Performance

PVLA stock opened at $19.00 on Thursday. Palvella Therapeutics has a 52-week low of $6.20 and a 52-week high of $22.32. The company’s 50-day moving average is $14.16.

Insider Transactions at Palvella Therapeutics

In other news, Director George M. Jenkins acquired 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired at an average price of $12.93 per share, for a total transaction of $51,720.00. Following the completion of the purchase, the director now owns 180,671 shares in the company, valued at approximately $2,336,076.03. This trade represents a 2.26 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.39% of the company’s stock.

Hedge Funds Weigh In On Palvella Therapeutics

Several institutional investors have recently bought and sold shares of the company. Suvretta Capital Management LLC purchased a new position in Palvella Therapeutics in the fourth quarter valued at approximately $8,574,000. BVF Inc. IL purchased a new position in Palvella Therapeutics in the fourth quarter valued at approximately $8,359,000. Samsara BioCapital LLC purchased a new position in Palvella Therapeutics in the fourth quarter valued at approximately $8,154,000. Frazier Life Sciences Management L.P. purchased a new position in Palvella Therapeutics in the fourth quarter valued at approximately $7,847,000. Finally, Adams Street Partners LLC purchased a new position in Palvella Therapeutics in the fourth quarter valued at approximately $4,916,000. Hedge funds and other institutional investors own 40.11% of the company’s stock.

About Palvella Therapeutics

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.