BVF Inc. IL Buys Shares of 696,555 Palvella Therapeutics (NASDAQ:PVLA)

BVF Inc. IL bought a new stake in Palvella Therapeutics (NASDAQ:PVLA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 696,555 shares of the company's stock, valued at approximately $8,359,000. BVF Inc. IL owned approximately 6.21% of Palvella Therapeutics at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BML Capital Management LLC bought a new position in shares of Palvella Therapeutics during the 4th quarter worth about $506,000. Nantahala Capital Management LLC bought a new position in Palvella Therapeutics during the fourth quarter worth about $3,001,000. Geode Capital Management LLC acquired a new stake in Palvella Therapeutics during the fourth quarter valued at approximately $171,000. Adams Street Partners LLC bought a new stake in shares of Palvella Therapeutics in the 4th quarter valued at approximately $4,916,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Palvella Therapeutics in the 4th quarter worth approximately $256,000. 40.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PVLA shares. HC Wainwright reiterated a "buy" rating and issued a $38.00 price target on shares of Palvella Therapeutics in a research report on Wednesday, April 30th. Jones Trading initiated coverage on shares of Palvella Therapeutics in a report on Tuesday, March 25th. They issued a "buy" rating and a $45.00 target price on the stock. Chardan Capital started coverage on shares of Palvella Therapeutics in a research report on Wednesday, April 9th. They set a "buy" rating and a $50.00 target price for the company. TD Cowen began coverage on shares of Palvella Therapeutics in a research report on Wednesday, February 5th. They issued a "buy" rating and a $44.00 price target on the stock. Finally, Scotiabank started coverage on shares of Palvella Therapeutics in a report on Friday, March 7th. They set a "sector outperform" rating and a $50.00 price objective for the company. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Palvella Therapeutics currently has a consensus rating of "Buy" and an average price target of $44.43.

Insider Transactions at Palvella Therapeutics

In related news, Director George M. Jenkins acquired 2,500 shares of the company's stock in a transaction that occurred on Wednesday, April 9th. The stock was purchased at an average price of $20.13 per share, for a total transaction of $50,325.00. Following the transaction, 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 position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.39% of the stock is owned by company insiders.

Palvella Therapeutics Stock Performance

NASDAQ:PVLA traded down $0.91 during mid-day trading on Wednesday, reaching $22.02. 36,286 shares of the company were exchanged, compared to its average volume of 71,215. The stock has a market capitalization of $243.17 million, a PE ratio of -1.82 and a beta of 0.10. Palvella Therapeutics has a 12 month low of $6.20 and a 12 month high of $29.27. The firm's fifty day moving average is $24.74.

Palvella Therapeutics Company Profile

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.