Canaccord Genuity Group Initiates Coverage on Palvella Therapeutics (NASDAQ:PVLA)

Research analysts at Canaccord Genuity Group assumed coverage on shares of Palvella Therapeutics (NASDAQ:PVLA) in a research note issued on Thursday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $39.00 price target on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 85.98% from the stock’s previous close.

Several other research firms have also commented on PVLA. HC Wainwright reiterated a “buy” rating and issued a $38.00 price target on shares of Palvella Therapeutics in a research report on Tuesday, February 11th. TD Cowen assumed coverage on shares of Palvella Therapeutics in a research note on Wednesday, February 5th. They set a “buy” rating and a $44.00 price target on the stock. Finally, Cantor Fitzgerald began coverage on shares of Palvella Therapeutics in a research note on Wednesday, December 18th. They set an “overweight” rating on the stock.

Palvella Therapeutics Stock Down 0.1 %

Shares of PVLA opened at $20.97 on Thursday. The business’s 50-day moving average is $14.06. Palvella Therapeutics has a twelve month low of $6.20 and a twelve month high of $22.32. The firm has a market capitalization of $235.28 million, a price-to-earnings ratio of -1.73 and a beta of 0.68.

Insider Activity at Palvella Therapeutics

In other news, Director George M. Jenkins purchased 4,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average cost of $12.93 per share, with a total value of $51,720.00. Following the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.39% of the company’s stock.

Institutional Investors Weigh In On Palvella Therapeutics

Large investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC acquired a new stake in Palvella Therapeutics during the 4th quarter valued at $125,000. Toronto Dominion Bank acquired a new position in Palvella Therapeutics during the 4th quarter worth $159,000. Geode Capital Management LLC acquired a new position in Palvella Therapeutics during the 4th quarter worth $171,000. Cresset Asset Management LLC acquired a new position in Palvella Therapeutics during the 4th quarter worth $251,000. Finally, Renaissance Technologies LLC acquired a new position in Palvella Therapeutics during the 4th quarter worth $256,000. 40.11% of the stock is owned by institutional investors and hedge funds.

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.