Jennison Associates LLC Has $79.85 Million Position in Palvella Therapeutics, Inc. $PVLA

Jennison Associates LLC grew its stake in Palvella Therapeutics, Inc. (NASDAQ:PVLA) by 65.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 640,611 shares of the company’s stock after acquiring an additional 253,128 shares during the quarter. Jennison Associates LLC owned 4.47% of Palvella Therapeutics worth $79,852,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Summit Partners Public Asset Management LLC boosted its stake in Palvella Therapeutics by 1,016.0% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 389,420 shares of the company’s stock worth $40,761,000 after acquiring an additional 354,525 shares during the last quarter. Vanguard Group Inc. increased its stake in Palvella Therapeutics by 202.0% in the third quarter. Vanguard Group Inc. now owns 494,656 shares of the company’s stock valued at $31,010,000 after purchasing an additional 330,847 shares in the last quarter. State Street Corp raised its holdings in Palvella Therapeutics by 206.3% in the fourth quarter. State Street Corp now owns 420,462 shares of the company’s stock worth $44,010,000 after purchasing an additional 283,211 shares during the period. Millennium Management LLC acquired a new stake in Palvella Therapeutics in the first quarter worth $7,553,000. Finally, Artisan Partners Limited Partnership bought a new position in shares of Palvella Therapeutics during the fourth quarter worth $22,143,000. 40.11% of the stock is currently owned by institutional investors and hedge funds.

Palvella Therapeutics Price Performance

Shares of PVLA stock opened at $157.24 on Monday. The firm has a fifty day moving average of $125.26 and a 200-day moving average of $115.40. Palvella Therapeutics, Inc. has a 12-month low of $29.38 and a 12-month high of $161.38. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -37.71 and a beta of -0.20.

Palvella Therapeutics (NASDAQ:PVLA) last issued 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). On average, equities analysts expect that Palvella Therapeutics, Inc. will post -5.26 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PVLA shares. Stephens reissued an “overweight” rating and issued a $220.00 price target on shares of Palvella Therapeutics in a report on Thursday, May 21st. HC Wainwright boosted their target price on Palvella Therapeutics from $255.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Chardan Capital restated a “buy” rating and issued a $240.00 price target on shares of Palvella Therapeutics in a report on Thursday, May 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Palvella Therapeutics in a research report on Monday, June 29th. Finally, Wall Street Zen lowered Palvella Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Palvella Therapeutics has a consensus 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 dated 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 of the company’s stock, valued at $238,512.42. This trade represents a 66.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 17.20% of the company’s stock.

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.