First Light Asset Management LLC Acquires 271,617 Shares of Palvella Therapeutics, Inc. $PVLA

First Light Asset Management LLC boosted its holdings in shares of Palvella Therapeutics, Inc. (NASDAQ:PVLA) by 38.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 980,758 shares of the company’s stock after acquiring an additional 271,617 shares during the period. Palvella Therapeutics accounts for approximately 11.0% of First Light Asset Management LLC’s investment portfolio, making the stock its 2nd biggest position. First Light Asset Management LLC owned about 0.07% of Palvella Therapeutics worth $122,251,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Suvretta Capital Management LLC lifted its stake in Palvella Therapeutics by 8.5% in the 4th quarter. Suvretta Capital Management LLC now owns 892,400 shares of the company’s stock worth $93,408,000 after purchasing an additional 70,000 shares in the last quarter. Jennison Associates LLC grew its position in shares of Palvella Therapeutics by 65.3% in the first quarter. Jennison Associates LLC now owns 640,611 shares of the company’s stock valued at $79,852,000 after purchasing an additional 253,128 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Palvella Therapeutics by 13.3% in the fourth quarter. Vanguard Group Inc. now owns 560,616 shares of the company’s stock valued at $58,680,000 after purchasing an additional 65,960 shares during the last quarter. State Street Corp increased its holdings in shares of Palvella Therapeutics by 206.3% in the fourth quarter. State Street Corp now owns 420,462 shares of the company’s stock valued at $44,010,000 after purchasing an additional 283,211 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC increased its holdings in shares of Palvella Therapeutics by 1,016.0% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 389,420 shares of the company’s stock valued at $40,761,000 after purchasing an additional 354,525 shares during the last quarter. Institutional investors and hedge funds own 40.11% of the company’s stock.

Palvella Therapeutics Price Performance

Shares of NASDAQ PVLA opened at $138.01 on Monday. The company has a market capitalization of $1.98 billion, a P/E ratio of -33.10 and a beta of -0.20. The company has a 50 day simple moving average of $127.06 and a 200-day simple moving average of $116.76. Palvella Therapeutics, Inc. has a 1 year low of $34.57 and a 1 year high of $161.38.

Palvella Therapeutics (NASDAQ:PVLA) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.30). As a group, research analysts expect that Palvella Therapeutics, Inc. will post -5.26 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Chardan Capital reissued a “buy” rating and set a $240.00 price objective on shares of Palvella Therapeutics in a research note on Thursday, May 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Palvella Therapeutics in a research note on Monday, June 29th. HC Wainwright reiterated a “buy” rating and set a $270.00 price target on shares of Palvella Therapeutics in a report on Wednesday. Wall Street Zen lowered Palvella Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Finally, Stephens reissued an “overweight” rating and set a $220.00 price target on shares of Palvella Therapeutics in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $199.53.

Insider Transactions at Palvella Therapeutics

In other Palvella Therapeutics news, COO Kathleen Goin sold 4,302 shares of Palvella Therapeutics stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $110.73, for a total value of $476,360.46. Following the sale, the chief operating officer owned 2,154 shares in the company, valued at $238,512.42. The trade was a 66.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.20% of the stock is currently owned by company insiders.

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.