Eventide Asset Management LLC Makes New $10.65 Million Investment in Palvella Therapeutics, Inc. $PVLA

Eventide Asset Management LLC acquired a new position in Palvella Therapeutics, Inc. (NASDAQ:PVLA) during the 4th quarter, HoldingsChannel reports. The fund acquired 101,748 shares of the company’s stock, valued at approximately $10,650,000.

Several other hedge funds have also added to or reduced their stakes in PVLA. First Light Asset Management LLC bought a new stake in Palvella Therapeutics in the third quarter worth about $33,949,000. Vanguard Group Inc. raised its position in Palvella Therapeutics by 202.0% in the third quarter. Vanguard Group Inc. now owns 494,656 shares of the company’s stock worth $31,010,000 after acquiring an additional 330,847 shares during the period. State Street Corp raised its position in Palvella Therapeutics by 206.3% in the fourth quarter. State Street Corp now owns 420,462 shares of the company’s stock worth $44,010,000 after acquiring an additional 283,211 shares during the period. Jennison Associates LLC raised its position in Palvella Therapeutics by 262.4% in the fourth quarter. Jennison Associates LLC now owns 387,483 shares of the company’s stock worth $40,558,000 after acquiring an additional 280,573 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of Palvella Therapeutics in the first quarter valued at approximately $7,553,000. Institutional investors own 40.11% of the company’s stock.

Palvella Therapeutics Stock Performance

Palvella Therapeutics stock opened at $108.81 on Monday. The firm’s 50 day simple moving average is $119.52 and its 200 day simple moving average is $108.53. The firm has a market capitalization of $1.56 billion, a PE ratio of -26.09 and a beta of -0.15. Palvella Therapeutics, Inc. has a 1-year low of $20.20 and a 1-year high of $151.18.

Palvella Therapeutics (NASDAQ:PVLA) last posted its earnings results on Thursday, May 7th. The company reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.30). Research analysts forecast that Palvella Therapeutics, Inc. will post -5.26 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on PVLA. Stephens reissued an “overweight” rating and issued a $220.00 price target on shares of Palvella Therapeutics in a research report on Thursday, May 21st. HC Wainwright boosted their price target on shares of Palvella Therapeutics from $255.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Mizuho boosted their price target on shares of Palvella Therapeutics from $205.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Wall Street Zen lowered shares of Palvella Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Finally, Stifel Nicolaus set a $250.00 price target on shares of Palvella Therapeutics in a research report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $199.53.

Insiders Place Their Bets

In related news, COO Kathleen Goin sold 4,302 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $117.99, for a total transaction of $507,592.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 20.50% of the company’s stock.

Palvella Therapeutics 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.