Palvella Therapeutics (NASDAQ:PVLA) Director Sells $2,028,969.92 in Stock

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

Palvella Therapeutics Stock Up 1.9%

Shares of PVLA stock opened at $154.32 on Friday. The business has a fifty day simple moving average of $149.32 and a 200 day simple moving average of $132.77. The company has a market cap of $2.22 billion, a P/E ratio of -31.95 and a beta of -0.25. Palvella Therapeutics, Inc. has a twelve month low of $56.22 and a twelve month high of $161.38.

Palvella Therapeutics (NASDAQ:PVLA) last issued its 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, equities research analysts anticipate that Palvella Therapeutics, Inc. will post -6.36 earnings per share for the current fiscal year.

Institutional Trading of Palvella Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. KBC Group NV bought a new position in Palvella Therapeutics during the 1st quarter worth approximately $28,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Palvella Therapeutics in the 2nd quarter worth approximately $35,000. Archer Investment Corp bought a new stake in shares of Palvella Therapeutics in the 2nd quarter valued at $69,000. Quantbot Technologies LP bought a new stake in shares of Palvella Therapeutics in the 2nd quarter valued at $71,000. Finally, State of Wyoming acquired a new stake in shares of Palvella Therapeutics during the second quarter worth $134,000. 40.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PVLA has been the topic of a number of research analyst reports. Chardan Capital upgraded shares of Palvella Therapeutics to a “strong-buy” rating in a research report on Tuesday, July 28th. Truist Financial set a $207.00 price target on Palvella Therapeutics in a research note on Wednesday, August 5th. Canaccord Genuity Group set a $232.00 price objective on Palvella Therapeutics in a report on Wednesday, August 5th. Stephens restated an “overweight” rating and set a $220.00 price objective on shares of Palvella Therapeutics in a research report on Thursday, May 21st. Finally, HC Wainwright restated a “buy” rating and set a $270.00 price objective on shares of Palvella Therapeutics in a research report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $209.14.

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.