DAFNA Capital Management LLC Makes New $857,000 Investment in Palvella Therapeutics (NASDAQ:PVLA)

DAFNA Capital Management LLC purchased a new position in Palvella Therapeutics (NASDAQ:PVLA - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 71,452 shares of the company's stock, valued at approximately $857,000. DAFNA Capital Management LLC owned 0.64% of Palvella Therapeutics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PVLA. BVF Inc. IL bought a new position in Palvella Therapeutics during the fourth quarter valued at $8,359,000. Samsara BioCapital LLC purchased a new position in Palvella Therapeutics in the 4th quarter worth about $8,154,000. Adams Street Partners LLC purchased a new position in Palvella Therapeutics during the 4th quarter valued at about $4,916,000. Nantahala Capital Management LLC purchased a new position in Palvella Therapeutics during the 4th quarter valued at about $3,001,000. Finally, Blue Owl Capital Holdings LP purchased a new position in Palvella Therapeutics during the 4th quarter valued at about $3,001,000. Institutional investors own 40.11% of the company's stock.

Palvella Therapeutics Stock Performance

Palvella Therapeutics stock traded up $2.00 during midday trading on Tuesday, hitting $22.75. 56,333 shares of the company's stock were exchanged, compared to its average volume of 69,681. The stock has a market cap of $251.23 million, a PE ratio of -1.88 and a beta of 0.10. The business has a 50 day moving average price of $24.87. Palvella Therapeutics has a 12-month low of $6.20 and a 12-month high of $29.27.

Insiders Place Their Bets

In other news, Director George M. Jenkins purchased 2,500 shares of the firm's stock in a transaction on Wednesday, April 9th. The shares were bought at an average cost of $20.13 per share, with a total value of $50,325.00. Following the purchase, the director now directly owns 183,171 shares of the company's stock, valued at approximately $3,687,232.23. This trade represents a 1.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.39% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PVLA has been the topic of a number of analyst reports. Chardan Capital initiated coverage on shares of Palvella Therapeutics in a research report on Wednesday, April 9th. They issued a "buy" rating and a $50.00 price objective on the stock. Scotiabank initiated coverage on shares of Palvella Therapeutics in a report on Friday, March 7th. They set a "sector outperform" rating and a $50.00 target price for the company. HC Wainwright reissued a "buy" rating and issued a $38.00 price objective on shares of Palvella Therapeutics in a report on Wednesday, April 30th. Canaccord Genuity Group reissued a "buy" rating and issued a $39.00 price objective on shares of Palvella Therapeutics in a report on Wednesday, February 26th. Finally, Stifel Nicolaus initiated coverage on shares of Palvella Therapeutics in a report on Wednesday, March 26th. They issued a "buy" rating and a $45.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $44.43.

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.