First Light Asset Management LLC Buys New Holdings in Palvella Therapeutics, Inc. $PVLA

First Light Asset Management LLC purchased a new position in Palvella Therapeutics, Inc. (NASDAQ:PVLA) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 541,544 shares of the company’s stock, valued at approximately $33,949,000. Palvella Therapeutics accounts for approximately 3.2% of First Light Asset Management LLC’s holdings, making the stock its 8th biggest position. First Light Asset Management LLC owned about 4.58% of Palvella Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PVLA. Federated Hermes Inc. purchased a new stake in shares of Palvella Therapeutics in the 3rd quarter valued at $21,255,000. Vanguard Group Inc. raised its holdings in shares of Palvella Therapeutics by 202.0% during the third quarter. Vanguard Group Inc. now owns 494,656 shares of the company’s stock worth $31,010,000 after purchasing an additional 330,847 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Palvella Therapeutics during the first quarter worth $7,553,000. Balyasny Asset Management L.P. acquired a new position in Palvella Therapeutics during the third quarter valued at $10,440,000. Finally, Suvretta Capital Management LLC lifted its position in Palvella Therapeutics by 15.1% during the third quarter. Suvretta Capital Management LLC now owns 822,400 shares of the company’s stock valued at $51,556,000 after purchasing an additional 107,937 shares during the period. 40.11% of the stock is currently owned by institutional investors and hedge funds.

Palvella Therapeutics Stock Performance

Shares of PVLA stock opened at $122.06 on Monday. Palvella Therapeutics, Inc. has a fifty-two week low of $18.23 and a fifty-two week high of $151.18. The stock’s fifty day moving average is $100.75 and its two-hundred day moving average is $86.41. The firm has a market capitalization of $1.44 billion, a P/E ratio of -46.41 and a beta of -0.30.

Insider Buying and Selling at Palvella Therapeutics

In other Palvella Therapeutics news, Director George M. Jenkins bought 4,000 shares of the firm’s stock in a transaction on Friday, February 27th. The shares were acquired at an average cost of $125.00 per share, with a total value of $500,000.00. Following the purchase, the director directly owned 187,171 shares of the company’s stock, valued at $23,396,375. This trade represents a 2.18% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Elaine J. Heron purchased 2,400 shares of the company’s stock in a transaction dated Friday, February 27th. The stock was bought at an average price of $125.00 per share, with a total value of $300,000.00. Following the completion of the transaction, the director directly owned 47,812 shares of the company’s stock, valued at approximately $5,976,500. This represents a 5.28% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 20.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. UBS Group reaffirmed a “buy” rating and set a $143.00 price target on shares of Palvella Therapeutics in a research report on Monday, December 15th. Mizuho boosted their price objective on Palvella Therapeutics from $205.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Canaccord Genuity Group upped their target price on Palvella Therapeutics from $148.00 to $204.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $193.00 target price on shares of Palvella Therapeutics in a report on Tuesday, December 16th. Finally, Chardan Capital lifted their price target on Palvella Therapeutics from $174.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $184.87.

About Palvella Therapeutics

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.