Palvella Therapeutics (NASDAQ:PVLA) Insider Jeffrey Martini Sells 6,250 Shares of Stock

Palvella Therapeutics, Inc. (NASDAQ:PVLA) insider Jeffrey Martini sold 6,250 shares of the company’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $166.98, for a total transaction of $1,043,625.00. Following the completion of the sale, the insider directly owned 4,266 shares in the company, valued at approximately $712,336.68. The trade was a 59.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Palvella Therapeutics Price Performance

NASDAQ:PVLA opened at $153.18 on Friday. Palvella Therapeutics, Inc. has a 12-month low of $72.22 and a 12-month high of $179.95. The firm has a 50-day moving average price of $143.62 and a 200 day moving average price of $129.63.

Palvella Therapeutics (NASDAQ:PVLA) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($1.70) EPS for the quarter, topping analysts’ consensus estimates of ($1.78) by $0.08. As a group, equities analysts anticipate that Palvella Therapeutics, Inc. will post -6.29 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. First Light Asset Management LLC boosted its stake in shares of Palvella Therapeutics by 38.3% in the 1st quarter. First Light Asset Management LLC now owns 980,758 shares of the company’s stock valued at $122,251,000 after purchasing an additional 271,617 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Palvella Therapeutics during the second quarter worth approximately $140,343,000. Jennison Associates LLC raised 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 worth $79,852,000 after buying an additional 253,128 shares during the last quarter. Siren L.L.C. lifted its holdings in Palvella Therapeutics by 243.3% in the first quarter. Siren L.L.C. now owns 257,485 shares of the company’s stock valued at $32,096,000 after buying an additional 182,485 shares during the period. Finally, Primecap Management Co. CA acquired a new position in Palvella Therapeutics in the second quarter valued at approximately $39,150,000. 40.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Canaccord Genuity Group boosted their target price on Palvella Therapeutics from $232.00 to $243.00 and gave the stock a “buy” rating in a report on Monday. Raymond James Financial set a $226.00 price objective on shares of Palvella Therapeutics in a research report on Friday, October 16th. William Blair initiated coverage on Palvella Therapeutics in a report on Friday, October 16th. They set an “outperform” rating on the stock. Chardan Capital reaffirmed a “buy” rating and set a $240.00 price objective on shares of Palvella Therapeutics in a report on Wednesday, October 28th. Finally, Truist Financial set a $207.00 target price on Palvella Therapeutics in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $213.85.

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.