Palvella Therapeutics (NASDAQ:PVLA) Hits New 52-Week High – Should You Buy?

Palvella Therapeutics, Inc. (NASDAQ:PVLA) hit a new 52-week high during trading on Wednesday. The stock traded as high as $162.31 and last traded at $162.51, with a volume of 132,908 shares. The stock had previously closed at $152.93.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PVLA shares. William Blair initiated coverage on Palvella Therapeutics in a research report on Friday, October 16th. They set an “outperform” rating on the stock. Chardan Capital restated a “buy” rating and issued a $240.00 price objective on shares of Palvella Therapeutics in a research report on Wednesday, October 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Palvella Therapeutics in a research note on Friday, September 25th. Canaccord Genuity Group set a $232.00 price objective on shares of Palvella Therapeutics in a research note on Wednesday, August 5th. Finally, Truist Financial set a $207.00 target price on shares of Palvella Therapeutics in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $209.79.

Palvella Therapeutics Price Performance

The business’s 50 day moving average is $141.70 and its two-hundred day moving average is $127.15. The firm has a market capitalization of $2.31 billion, a PE ratio of -33.35 and a beta of -0.21.

Palvella Therapeutics (NASDAQ:PVLA) last announced its earnings results on Tuesday, August 4th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.35). Analysts expect that Palvella Therapeutics, Inc. will post -6.39 EPS for the current fiscal year.

Insider Transactions at Palvella Therapeutics

In other news, Director George M. Jenkins sold 13,352 shares of Palvella Therapeutics stock in a transaction on Monday, September 14th. The shares were sold at an average price of $151.96, for a total transaction of $2,028,969.92. Following the completion of the sale, the director directly owned 161,893 shares of the company’s stock, valued at approximately $24,601,260.28. The trade was a 7.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher P. Kiritsy sold 313 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $157.00, for a total transaction of $49,141.00. Following the completion of the transaction, the director owned 250 shares of the company’s stock, valued at $39,250. This trade represents a 55.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 61,056 shares of company stock valued at $8,756,946 in the last quarter. Insiders own 17.20% of the company’s stock.

Institutional Investors Weigh In On Palvella Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Ethic Inc. bought a new stake in Palvella Therapeutics during the third quarter worth about $308,000. Alps Advisors Inc. increased its position in shares of Palvella Therapeutics by 33.0% during the 3rd quarter. Alps Advisors Inc. now owns 19,099 shares of the company’s stock valued at $2,634,000 after purchasing an additional 4,743 shares during the last quarter. Calamos Advisors LLC increased its position in shares of Palvella Therapeutics by 27.5% during the 3rd quarter. Calamos Advisors LLC now owns 13,361 shares of the company’s stock valued at $1,843,000 after purchasing an additional 2,882 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Palvella Therapeutics by 31.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,783 shares of the company’s stock valued at $248,000 after purchasing an additional 426 shares during the last quarter. Finally, Sterling Capital Management LLC raised its holdings in shares of Palvella Therapeutics by 907.7% during the 3rd quarter. Sterling Capital Management LLC now owns 393 shares of the company’s stock valued at $54,000 after buying an additional 354 shares in the last quarter. Hedge funds and other institutional investors own 40.11% of the company’s stock.

About Palvella Therapeutics

Palvella Therapeutics, Inc (NASDAQ: PVLA) is a clinical-stage biopharmaceutical company focused on developing treatments for patients with serious rare diseases, including conditions that may have limited or no approved therapeutic options.

The company’s development programs are based on its QTORIN 3.0 technology platform, which is designed to deliver medicines locally through topical formulations. Palvella has applied the platform to investigational therapies for rare genetic skin disorders and other localized diseases, with the goal of improving treatment effectiveness while limiting systemic exposure.

Palvella is headquartered in Wayne, Pennsylvania, and conducts research and development activities aimed at serving rare-disease patients in the United States and other potential international markets.