Primecap Management Co. CA Invests $39.15 Million in Palvella Therapeutics, Inc. $PVLA

Primecap Management Co. CA bought a new position in Palvella Therapeutics, Inc. (NASDAQ:PVLA) during the second quarter, Holdings Channel reports. The firm bought 256,182 shares of the company’s stock, valued at approximately $39,150,000.

Other large investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its stake in shares of Palvella Therapeutics by 688.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 17,907 shares of the company’s stock worth $2,232,000 after acquiring an additional 15,637 shares in the last quarter. Blue Owl Capital Holdings LP bought a new position in shares of Palvella Therapeutics during the second quarter valued at about $5,541,000. Jennison Associates LLC lifted its position in shares of Palvella Therapeutics by 262.4% during the fourth quarter. Jennison Associates LLC now owns 387,483 shares of the company’s stock valued at $40,558,000 after purchasing an additional 280,573 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new position in Palvella Therapeutics during the first quarter worth about $13,190,000. Finally, WCM Investment Management LLC purchased a new position in Palvella Therapeutics during the first quarter worth about $4,982,000. Institutional investors own 40.11% of the company’s stock.

Palvella Therapeutics Stock Performance

NASDAQ PVLA opened at $154.33 on Thursday. The company has a market capitalization of $2.22 billion, a PE ratio of -31.95 and a beta of -0.17. Palvella Therapeutics, Inc. has a 52-week low of $49.81 and a 52-week high of $161.38. The company has a 50-day simple moving average of $144.53 and a 200 day simple moving average of $126.25.

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

Insider Activity at Palvella Therapeutics

In related news, COO Kathleen Goin sold 4,302 shares of Palvella Therapeutics stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $152.21, for a total value of $654,807.42. Following the sale, the chief operating officer owned 2,154 shares of the company’s stock, valued at approximately $327,860.34. The trade was a 66.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 17.20% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.