Palvella Therapeutics (NASDAQ:PVLA) Director George Jenkins Sells 13,352 Shares

Palvella Therapeutics, Inc. (NASDAQ:PVLA) Director George Jenkins sold 13,352 shares of Palvella Therapeutics stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $151.96, for a total transaction of $2,028,969.92. Following the transaction, the director directly owned 161,893 shares of the company’s stock, valued at approximately $24,601,260.28. This trade represents a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Palvella Therapeutics Stock Performance

Shares of PVLA traded down $0.47 during trading hours on Tuesday, hitting $151.22. The stock had a trading volume of 215,632 shares, compared to its average volume of 186,628. The firm has a 50-day moving average price of $149.13 and a 200 day moving average price of $132.62. Palvella Therapeutics, Inc. has a fifty-two week low of $54.28 and a fifty-two week high of $161.38. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -31.31 and a beta of -0.25.

Palvella Therapeutics (NASDAQ:PVLA) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($1.52) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.35). As a group, analysts predict that Palvella Therapeutics, Inc. will post -6.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PVLA. Weiss Ratings restated a “sell (d-)” rating on shares of Palvella Therapeutics in a research note on Monday, June 29th. Stephens reissued an “overweight” rating and issued a $220.00 price objective on shares of Palvella Therapeutics in a report on Thursday, May 21st. Canaccord Genuity Group set a $232.00 price objective on Palvella Therapeutics in a research report on Wednesday, August 5th. HC Wainwright reaffirmed a “buy” rating and set a $270.00 target price on shares of Palvella Therapeutics in a research note on Wednesday, July 22nd. Finally, Truist Financial set a $207.00 target price on Palvella Therapeutics in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $209.14.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Light Asset Management LLC boosted its stake in Palvella Therapeutics by 38.3% during the 1st quarter. First Light Asset Management LLC now owns 980,758 shares of the company’s stock worth $122,251,000 after purchasing an additional 271,617 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Palvella Therapeutics in the second quarter valued at about $140,343,000. Jennison Associates LLC lifted its stake 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 worth $79,852,000 after buying an additional 253,128 shares in the last quarter. Summit Partners Public Asset Management LLC lifted its stake 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 worth $40,761,000 after buying an additional 354,525 shares in the last quarter. Finally, Siren L.L.C. boosted its position in Palvella Therapeutics by 243.3% during the first quarter. Siren L.L.C. now owns 257,485 shares of the company’s stock worth $32,096,000 after acquiring an additional 182,485 shares during the last quarter. Hedge funds and other institutional investors own 40.11% of the company’s stock.

Palvella Therapeutics Company Profile

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.