Palvella Therapeutics (NASDAQ:PVLA) Sees Strong Trading Volume – Time to Buy?

Palvella Therapeutics, Inc. (NASDAQ:PVLA) shares saw unusually-high trading volume on Tuesday . Approximately 138,112 shares traded hands during trading, an increase of 9% from the previous session’s volume of 126,690 shares.The stock last traded at $94.20 and had previously closed at $94.53.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. TD Cowen lifted their price objective on Palvella Therapeutics from $65.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. HC Wainwright raised their price target on shares of Palvella Therapeutics from $95.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Raymond James Financial raised shares of Palvella Therapeutics from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $92.00 to $143.00 in a research report on Wednesday, November 19th. Oppenheimer reiterated an “outperform” rating on shares of Palvella Therapeutics in a research note on Tuesday, November 11th. Finally, Cantor Fitzgerald raised their target price on shares of Palvella Therapeutics from $120.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $117.33.

Palvella Therapeutics Stock Performance

The stock has a market cap of $1.07 billion, a PE ratio of -34.37 and a beta of -0.20. The stock has a fifty day simple moving average of $76.98 and a two-hundred day simple moving average of $50.50.

Palvella Therapeutics (NASDAQ:PVLA) last posted its quarterly earnings data on Monday, November 10th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.18). On average, equities analysts predict that Palvella Therapeutics, Inc. will post -3.69 EPS for the current fiscal year.

Insider Buying and Selling

In other Palvella Therapeutics news, COO Kathleen Goin sold 4,302 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $86.23, for a total value of $370,961.46. The sale was disclosed in a document filed with the SEC, which is available at this link. 20.50% of the stock is owned by corporate insiders.

Institutional Trading of Palvella Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Frazier Life Sciences Management L.P. lifted its stake in shares of Palvella Therapeutics by 5.5% in the first quarter. Frazier Life Sciences Management L.P. now owns 690,012 shares of the company’s stock worth $19,313,000 after acquiring an additional 36,120 shares in the last quarter. AWM Investment Company Inc. purchased a new stake in Palvella Therapeutics during the 1st quarter worth approximately $1,943,000. Millennium Management LLC acquired a new position in shares of Palvella Therapeutics in the 1st quarter valued at approximately $7,553,000. Goldman Sachs Group Inc. purchased a new position in shares of Palvella Therapeutics during the 1st quarter valued at approximately $533,000. Finally, Woodline Partners LP purchased a new position in shares of Palvella Therapeutics during the 1st quarter valued at approximately $5,435,000. 40.11% of the stock is owned by hedge funds and other institutional investors.

About Palvella Therapeutics

Palvella Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to treat patients suffering from serious, rare genetic skin diseases. Palvella Therapeutics Inc, formerly known as Pieris Pharmaceuticals Inc, is based in WAYNE, Pa.