Palvella Therapeutics (NASDAQ:PVLA) Director George Jenkins Sells 13,352 Shares

Palvella Therapeutics, Inc. (NASDAQ:PVLA) Director George Jenkins sold 13,352 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $151.96, for a total value of $2,028,969.92. Following the sale, the director owned 161,893 shares of the company’s stock, valued at $24,601,260.28. This represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Palvella Therapeutics Stock Performance

NASDAQ:PVLA opened at $151.22 on Wednesday. Palvella Therapeutics, Inc. has a one year low of $54.28 and a one year high of $161.38. The business’s 50-day simple moving average is $149.13 and its 200 day simple moving average is $132.62. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of -31.31 and a beta of -0.25.

Palvella Therapeutics (NASDAQ:PVLA) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($1.52) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.35). On average, equities research analysts predict that Palvella Therapeutics, Inc. will post -6.36 EPS for the current year.

Institutional Investors Weigh In On Palvella Therapeutics

A number of institutional investors have recently made changes to their positions in the company. First Light Asset Management LLC lifted its stake in Palvella Therapeutics by 38.3% during the first quarter. First Light Asset Management LLC now owns 980,758 shares of the company’s stock worth $122,251,000 after purchasing an additional 271,617 shares during the last quarter. BlackRock Inc. bought a new stake in Palvella Therapeutics during the second quarter valued at $140,343,000. Jennison Associates LLC raised its holdings 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 purchasing an additional 253,128 shares during the period. Summit Partners Public Asset Management LLC raised its holdings in shares of 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 during the period. Finally, Siren L.L.C. lifted its position in shares of Palvella Therapeutics by 243.3% in the 1st quarter. Siren L.L.C. now owns 257,485 shares of the company’s stock worth $32,096,000 after buying an additional 182,485 shares during the last quarter. 40.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on PVLA shares. HC Wainwright restated a “buy” rating and issued a $270.00 price target on shares of Palvella Therapeutics in a research note on Wednesday, July 22nd. Truist Financial set a $207.00 price objective on shares of Palvella Therapeutics in a research note on Wednesday, August 5th. Stephens reissued an “overweight” rating and set a $220.00 price objective on shares of Palvella Therapeutics in a report on Thursday, May 21st. Chardan Capital raised shares of Palvella Therapeutics to a “strong-buy” rating in a research report on Tuesday, July 28th. Finally, Canaccord Genuity Group set a $232.00 target price on shares of Palvella Therapeutics in a research note on Wednesday, August 5th. Two research 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $209.14.

About Palvella Therapeutics

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.