Hsbc Holdings PLC bought a new stake in Palvella Therapeutics, Inc. (NASDAQ:PVLA – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 50,001 shares of the company’s stock, valued at approximately $7,641,000. Hsbc Holdings PLC owned approximately 0.35% of Palvella Therapeutics as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. Group One Trading LLC raised its position in shares of Palvella Therapeutics by 151.5% during the 4th quarter. Group One Trading LLC now owns 332 shares of the company’s stock worth $35,000 after buying an additional 200 shares in the last quarter. KBC Group NV bought a new position in shares of Palvella Therapeutics in the first quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Palvella Therapeutics in the second quarter valued at approximately $35,000. Price T Rowe Associates Inc. MD increased its stake in shares of Palvella Therapeutics by 11.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,090 shares of the company’s stock valued at $429,000 after acquiring an additional 433 shares during the period. Finally, Archer Investment Corp acquired a new position in shares of Palvella Therapeutics during the second quarter valued at approximately $69,000. Institutional investors and hedge funds own 40.11% of the company’s stock.
Insider Activity at Palvella Therapeutics
In related news, COO Kathleen Goin sold 4,302 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $152.21, for a total value of $654,807.42. Following the completion of the sale, the chief operating officer owned 2,154 shares in the company, valued at approximately $327,860.34. This represents a 66.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher Kiritsy sold 313 shares of Palvella Therapeutics stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $157.00, for a total transaction of $49,141.00. Following the transaction, the director owned 250 shares in the company, valued at approximately $39,250. The trade was a 55.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 8,917 shares of company stock valued at $1,180,309. 17.20% of the stock is owned by insiders.
Palvella Therapeutics Trading Down 0.6%
Palvella Therapeutics (NASDAQ:PVLA – Get Free Report) last announced 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). Research analysts forecast that Palvella Therapeutics, Inc. will post -6.36 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research firms have weighed in on PVLA. Stephens restated an “overweight” rating and issued a $220.00 target price on shares of Palvella Therapeutics in a research report on Thursday, May 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Palvella Therapeutics in a research report on Monday, June 29th. Canaccord Genuity Group set a $232.00 price objective on Palvella Therapeutics in a research note on Wednesday, August 5th. Chardan Capital upgraded Palvella Therapeutics to a “strong-buy” rating in a report on Tuesday, July 28th. Finally, Truist Financial set a $207.00 target price on Palvella Therapeutics in a research note 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Palvella Therapeutics has an average rating of “Buy” and an average target price of $209.14.
Read Our Latest Report on Palvella Therapeutics
Palvella Therapeutics Company 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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