Insider Selling: Palvella Therapeutics (NASDAQ:PVLA) Director Sells $1,871,484.88 in Stock

Palvella Therapeutics, Inc. (NASDAQ:PVLA) Director George Jenkins sold 12,371 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $151.28, for a total value of $1,871,484.88. Following the completion of the transaction, the director directly owned 175,245 shares of the company’s stock, valued at $26,511,063.60. This represents a 6.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Palvella Therapeutics Stock Up 1.9%

NASDAQ PVLA opened at $154.32 on Friday. Palvella Therapeutics, Inc. has a twelve month low of $56.22 and a twelve month high of $161.38. The firm has a market capitalization of $2.22 billion, a PE ratio of -31.95 and a beta of -0.25. The stock’s 50 day moving average is $149.32 and its 200 day moving average is $132.77.

Palvella Therapeutics (NASDAQ:PVLA) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($1.52) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.35). On average, research analysts anticipate that Palvella Therapeutics, Inc. will post -6.36 earnings per share for the current year.

Institutional Trading of Palvella Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Arizona State Retirement System raised its holdings in Palvella Therapeutics by 30.9% in the second quarter. Arizona State Retirement System now owns 2,765 shares of the company’s stock worth $423,000 after buying an additional 652 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Palvella Therapeutics in the second quarter worth approximately $35,000. Penn Capital Management Company LLC purchased a new stake in shares of Palvella Therapeutics during the second quarter valued at approximately $841,000. Hsbc Holdings PLC purchased a new stake in shares of Palvella Therapeutics during the second quarter valued at approximately $7,641,000. Finally, Wellington Management Group LLP increased its position in shares of Palvella Therapeutics by 4.6% during the second quarter. Wellington Management Group LLP now owns 35,594 shares of the company’s stock valued at $5,439,000 after acquiring an additional 1,554 shares in the last quarter. 40.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PVLA has been the subject of several research reports. Stephens reiterated an “overweight” rating and issued a $220.00 price target on shares of Palvella Therapeutics in a research note on Thursday, May 21st. HC Wainwright reissued a “buy” rating and set a $270.00 price objective on shares of Palvella Therapeutics in a research note on Wednesday, July 22nd. Canaccord Genuity Group set a $232.00 price objective on shares of Palvella Therapeutics in a report on Wednesday, August 5th. Chardan Capital raised shares of Palvella Therapeutics to a “strong-buy” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Palvella Therapeutics in a research note on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Palvella Therapeutics has a consensus rating of “Buy” and an average target price of $209.14.

About Palvella Therapeutics

Palvella Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for patients with rare genetic and dermatologic diseases. The company uses its proprietary QTORIN platform to formulate and deliver medicines locally to affected tissues, with the goal of improving treatment effectiveness while limiting systemic exposure.

Palvella’s lead program is QTORIN 3.9% rapamycin, an investigational topical gel being developed for microcystic lymphatic malformations, rare lesions caused by abnormalities in the lymphatic system.