Palvella Therapeutics (NASDAQ:PVLA) Director George Jenkins Sells 1,777 Shares of Stock

Palvella Therapeutics, Inc. (NASDAQ:PVLA) Director George Jenkins sold 1,777 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $150.14, for a total transaction of $266,798.78. Following the completion of the transaction, the director directly owned 160,116 shares of the company’s stock, valued at approximately $24,039,816.24. The trade was a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Palvella Therapeutics Price Performance

Shares of PVLA opened at $151.22 on Wednesday. Palvella Therapeutics, Inc. has a one year low of $54.28 and a one year high of $161.38. The company has a 50-day simple moving average of $149.13 and a two-hundred day simple moving average of $132.62. The firm has a market capitalization of $2.18 billion, a PE ratio of -31.31 and a beta of -0.25.

Palvella Therapeutics (NASDAQ:PVLA) last posted its earnings results on Tuesday, August 4th. The company reported ($1.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.35). Analysts expect that Palvella Therapeutics, Inc. will post -6.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PVLA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Palvella Therapeutics in a report on Monday, June 29th. Truist Financial set a $207.00 target price on shares of Palvella Therapeutics in a report on Wednesday, August 5th. Stephens reaffirmed an “overweight” rating and issued a $220.00 target price on shares of Palvella Therapeutics in a research report on Thursday, May 21st. Chardan Capital upgraded shares of Palvella Therapeutics to a “strong-buy” rating in a research note on Tuesday, July 28th. Finally, HC Wainwright reiterated a “buy” rating and issued a $270.00 price target on shares of Palvella Therapeutics in a research note on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $209.14.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in shares of Palvella Therapeutics by 25.4% in the 1st quarter. Bank of America Corp DE now owns 37,972 shares of the company’s stock worth $4,733,000 after purchasing an additional 7,700 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Palvella Therapeutics by 688.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 17,907 shares of the company’s stock worth $2,232,000 after purchasing an additional 15,637 shares in the last quarter. Blue Owl Capital Holdings LP purchased a new stake in Palvella Therapeutics during the 2nd quarter valued at about $5,541,000. Deutsche Bank AG purchased a new stake in Palvella Therapeutics during the 2nd quarter valued at about $1,809,000. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in Palvella Therapeutics during the 1st quarter valued at about $13,190,000. 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.