Renaissance Technologies LLC lessened its holdings in Palvella Therapeutics, Inc. (NASDAQ:PVLA – Free Report) by 20.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,970 shares of the company’s stock after selling 4,560 shares during the quarter. Renaissance Technologies LLC owned 0.13% of Palvella Therapeutics worth $2,240,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. KBC Group NV bought a new position in shares of Palvella Therapeutics during the 1st quarter worth about $28,000. Group One Trading LLC raised its position in Palvella Therapeutics by 151.5% in the fourth quarter. Group One Trading LLC now owns 332 shares of the company’s stock worth $35,000 after purchasing an additional 200 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Palvella Therapeutics during the third quarter worth about $36,000. China Universal Asset Management Co. Ltd. bought a new position in Palvella Therapeutics during the fourth quarter worth about $167,000. Finally, Keybank National Association OH acquired a new stake in Palvella Therapeutics during the first quarter valued at approximately $228,000. Institutional investors and hedge funds own 40.11% of the company’s stock.
Palvella Therapeutics Stock Performance
Shares of PVLA opened at $152.22 on Tuesday. The stock has a fifty day moving average price of $134.55 and a two-hundred day moving average price of $120.54. Palvella Therapeutics, Inc. has a 52-week low of $40.22 and a 52-week high of $161.38. The company has a market cap of $2.19 billion, a price-to-earnings ratio of -31.52 and a beta of -0.17.
Insider Buying and Selling
In other Palvella Therapeutics news, COO Kathleen Goin sold 4,302 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $110.73, for a total value of $476,360.46. Following the completion of the transaction, the chief operating officer directly owned 2,154 shares of the company’s stock, valued at approximately $238,512.42. The trade was a 66.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.20% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
PVLA has been the topic of several analyst reports. Stephens reiterated an “overweight” rating and issued a $220.00 price objective on shares of Palvella Therapeutics in a research note on Thursday, May 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Palvella Therapeutics in a research note on Monday, June 29th. HC Wainwright reiterated a “buy” rating and issued a $270.00 price target on shares of Palvella Therapeutics in a research report on Wednesday, July 22nd. Truist Financial set a $207.00 price objective on Palvella Therapeutics in a research note on Wednesday, August 5th. Finally, Canaccord Genuity Group set a $232.00 price objective on Palvella Therapeutics in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $209.14.
Check Out Our Latest Stock Report on Palvella Therapeutics
Palvella Therapeutics 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.
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