Palvella Therapeutics (NASDAQ:PVLA) Stock Keeps “Buy” Rating at Chardan Capital

Palvella Therapeutics (NASDAQ:PVLA)‘s stock had its “buy” rating reaffirmed by investment analysts at Chardan Capital in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $240.00 price target on the stock. Chardan Capital‘s target price indicates a potential upside of 66.28% from the company’s current price.

Other analysts also recently issued reports about the company. HC Wainwright reiterated a “buy” rating on shares of Palvella Therapeutics in a research report on Tuesday, October 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Palvella Therapeutics in a research report on Friday, September 25th. William Blair assumed coverage on Palvella Therapeutics in a research report on Friday, October 16th. They set an “outperform” rating for the company. Raymond James Financial set a $226.00 price objective on Palvella Therapeutics in a research report on Friday, October 16th. Finally, Canaccord Genuity Group set a $232.00 price objective on Palvella Therapeutics in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Palvella Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.79.

Palvella Therapeutics Trading Up 8.6%

Shares of Palvella Therapeutics stock traded up $11.43 during trading hours on Wednesday, reaching $144.34. 116,943 shares of the company’s stock were exchanged, compared to its average volume of 257,955. The stock has a market cap of $2.08 billion, a P/E ratio of -29.88 and a beta of -0.27. The company has a 50 day moving average of $141.42 and a two-hundred day moving average of $125.93. Palvella Therapeutics has a fifty-two week low of $71.55 and a fifty-two week high of $161.38.

Palvella Therapeutics (NASDAQ:PVLA) last issued its quarterly earnings data 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). As a group, analysts expect that Palvella Therapeutics will post -6.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Christopher Kiritsy sold 313 shares of the firm’s stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Kathleen Goin sold 4,313 shares of the firm’s stock in a transaction that occurred on Wednesday, October 21st. The shares were sold at an average price of $124.58, for a total value of $537,313.54. Following the completion of the sale, the chief operating officer directly owned 2,165 shares of the company’s stock, valued at $269,715.70. This trade represents a 66.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 61,056 shares of company stock valued at $8,756,946 over the last 90 days. Company insiders own 17.20% of the company’s stock.

Hedge Funds Weigh In On Palvella Therapeutics

A number of hedge funds have recently bought and sold shares of the company. KBC Group NV bought a new stake in Palvella Therapeutics during the first quarter worth $28,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Palvella Therapeutics in the second quarter valued at $35,000. Sterling Capital Management LLC raised its stake in shares of Palvella Therapeutics by 907.7% in the third quarter. Sterling Capital Management LLC now owns 393 shares of the company’s stock valued at $54,000 after buying an additional 354 shares during the period. Archer Investment Corp bought a new stake in shares of Palvella Therapeutics in the second quarter valued at $69,000. Finally, Quantbot Technologies LP bought a new stake in shares of Palvella Therapeutics in the second quarter valued at $71,000. 40.11% of the stock is owned by hedge funds and other institutional investors.

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.