Palvella Therapeutics (NASDAQ:PVLA) Director Sells $935,202.64 in Stock

Palvella Therapeutics, Inc. (NASDAQ:PVLA – Get Free Report) Director George Jenkins sold 7,174 shares of Palvella Therapeutics stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $130.36, for a total transaction of $935,202.64. Following the completion of the transaction, the director owned 139,790 shares of the company’s stock, valued at $18,223,024.40. The trade was a 4.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Palvella Therapeutics Stock Performance

Shares of NASDAQ PVLA traded down $5.93 during midday trading on Wednesday, hitting $122.58. The company’s stock had a trading volume of 382,261 shares, compared to its average volume of 237,043. The stock has a fifty day moving average price of $146.74 and a 200 day moving average price of $134.32. Palvella Therapeutics, Inc. has a one year low of $68.96 and a one year high of $161.38.

Palvella Therapeutics (NASDAQ:PVLA – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($1.52) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.35). Sell-side analysts predict that Palvella Therapeutics, Inc. will post -6.40 earnings per share for the current year.

Institutional Investors Weigh In On Palvella Therapeutics

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Palvella Therapeutics during the 2nd quarter worth $140,343,000. Summit Partners Public Asset Management LLC raised its position in Palvella Therapeutics by 1,016.0% during the fourth quarter. Summit Partners Public Asset Management LLC now owns 389,420 shares of the company’s stock valued at $40,761,000 after purchasing an additional 354,525 shares in the last quarter. First Light Asset Management LLC lifted its stake in Palvella Therapeutics by 38.3% during the first quarter. First Light Asset Management LLC now owns 980,758 shares of the company’s stock worth $122,251,000 after purchasing an additional 271,617 shares during the last quarter. Primecap Management Co. CA bought a new stake in Palvella Therapeutics during the second quarter worth about $39,150,000. Finally, Jennison Associates LLC boosted its holdings in shares of Palvella Therapeutics by 65.3% in the 1st quarter. Jennison Associates LLC now owns 640,611 shares of the company’s stock worth $79,852,000 after purchasing an additional 253,128 shares in the last quarter. 40.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. HC Wainwright dropped their target price on Palvella Therapeutics from $270.00 to $246.00 and set a “buy” rating on the stock in a research report on Monday. Chardan Capital initiated coverage on Palvella Therapeutics in a report on Monday, September 21st. They issued a “buy” rating and a $240.00 price target for the company. Canaccord Genuity Group set a $232.00 price target on Palvella Therapeutics in a research report on Wednesday, August 5th. Truist Financial set a $207.00 price objective on Palvella Therapeutics in a research note on Wednesday, August 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Palvella Therapeutics in a research note on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Palvella Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $207.43.

View Our Latest Report on Palvella Therapeutics

Palvella Therapeutics Company Profile

(Get Free Report)

Palvella Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for patients with rare and serious diseases. The company’s work centers on localized treatments intended to address conditions for which existing therapeutic options are limited.

Palvella’s lead investigational product is QTORIN 3.9%, a topical formulation of sirolimus designed to deliver the medicine directly to affected areas of the skin. The product is being developed for microcystic lymphatic malformations, rare vascular anomalies that can cause swelling, pain and disfigurement.

Recommended Stories

Insider Buying and Selling by Quarter for Palvella Therapeutics (NASDAQ:PVLA)

Receive News & Ratings for Palvella Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palvella Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.