Palvella Therapeutics (NASDAQ:PVLA) Shares Down 5.9% – Time to Sell?

Palvella Therapeutics, Inc. (NASDAQ:PVLA) shares fell 5.9% on Friday . The stock traded as low as $65.93 and last traded at $65.94. 24,498 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 109,129 shares. The stock had previously closed at $70.09.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PVLA. Oppenheimer began coverage on shares of Palvella Therapeutics in a research report on Tuesday, September 9th. They issued an “outperform” rating and a $85.00 price target on the stock. HC Wainwright boosted their price target on shares of Palvella Therapeutics from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, September 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $120.00 price target on shares of Palvella Therapeutics in a research report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Palvella Therapeutics in a research report on Wednesday. Finally, Canaccord Genuity Group lifted their price objective on shares of Palvella Therapeutics from $66.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $75.50.

Palvella Therapeutics Stock Down 0.3%

The company has a market capitalization of $773.09 million, a PE ratio of -5.78 and a beta of -0.13. The firm’s 50 day simple moving average is $54.75 and its 200 day simple moving average is $35.61.

Palvella Therapeutics (NASDAQ:PVLA) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.08). As a group, sell-side analysts predict that Palvella Therapeutics, Inc. will post -3.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PVLA. Police & Firemen s Retirement System of New Jersey purchased a new stake in Palvella Therapeutics in the second quarter worth about $37,000. Spire Wealth Management purchased a new stake in Palvella Therapeutics in the first quarter worth about $70,000. JPMorgan Chase & Co. lifted its stake in Palvella Therapeutics by 108,066.7% in the second quarter. JPMorgan Chase & Co. now owns 3,245 shares of the company’s stock worth $73,000 after acquiring an additional 3,242 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Palvella Therapeutics in the second quarter worth about $85,000. Finally, BNP Paribas Financial Markets purchased a new stake in Palvella Therapeutics in the second quarter worth about $104,000. 40.11% of the stock is currently owned by 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.