Palvella Therapeutics (NASDAQ:PVLA) Stock Price Up 6.5% – Here’s What Happened

Palvella Therapeutics, Inc. (NASDAQ:PVLA) was up 6.5% during trading on Wednesday . The stock traded as high as $97.61 and last traded at $96.34. Approximately 32,116 shares traded hands during trading, a decline of 87% from the average daily volume of 255,564 shares. The stock had previously closed at $90.43.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PVLA. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Palvella Therapeutics in a report on Monday, December 29th. Craig Hallum initiated coverage on Palvella Therapeutics in a research note on Thursday, December 4th. They set a “buy” rating and a $175.00 target price on the stock. UBS Group reaffirmed a “buy” rating and set a $143.00 target price on shares of Palvella Therapeutics in a research report on Monday, December 15th. Mizuho assumed coverage on Palvella Therapeutics in a report on Wednesday. They issued an “outperform” rating and a $205.00 price target for the company. Finally, Chardan Capital boosted their price target on Palvella Therapeutics from $110.00 to $174.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued 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 “Buy” and an average price target of $158.69.

Palvella Therapeutics Price Performance

The stock has a fifty day moving average of $92.34 and a 200 day moving average of $64.17. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -36.87 and a beta of -0.16.

Palvella Therapeutics (NASDAQ:PVLA) last posted its quarterly earnings results on Monday, November 10th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.18). As a group, equities analysts expect that Palvella Therapeutics, Inc. will post -3.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palvella Therapeutics news, COO Kathleen Goin sold 4,302 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $96.47, for a total transaction of $415,013.94. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 20.50% of the company’s stock.

Institutional Trading of Palvella Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Clio Asset Management LLC acquired a new position in shares of Palvella Therapeutics in the second quarter worth about $2,063,000. Frazier Life Sciences Management L.P. grew its position in shares of Palvella Therapeutics by 4.7% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 722,400 shares of the company’s stock valued at $16,283,000 after acquiring an additional 32,388 shares during the period. XTX Topco Ltd purchased a new position in shares of Palvella Therapeutics in the 2nd quarter valued at about $399,000. Woodline Partners LP acquired a new position in Palvella Therapeutics in the 1st quarter worth about $5,435,000. Finally, Goldman Sachs Group Inc. acquired a new position in Palvella Therapeutics in the 1st quarter worth about $533,000. Hedge funds and other institutional investors own 40.11% of the company’s stock.

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.