195,070 Shares in Palvella Therapeutics, Inc. $PVLA Bought by William Blair Investment Management LLC

Key Points

• William Blair Investment Management acquired 195,070 Palvella Therapeutics shares in the third quarter, worth about $26.9 million and representing 1.35% of the company.
• Other institutions have also built positions, and institutional investors collectively own 40.11% of the stock. Meanwhile, company insiders sold 67,306 shares worth about $9.8 million over the past 90 days.
• Palvella reported quarterly EPS of -$1.70, beating analyst expectations of -$1.78. Analysts’ consensus rating is “Buy,” with an average price target of $213.85.

William Blair Investment Management LLC acquired a new stake in Palvella Therapeutics, Inc. (NASDAQ:PVLA - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 195,070 shares of the company's stock, valued at approximately $26,906,000. William Blair Investment Management LLC owned 1.35% 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 bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Palvella Therapeutics in the 2nd quarter worth $140,343,000. First Light Asset Management LLC boosted its holdings 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 buying an additional 271,617 shares during the last quarter. Primecap Management Co. CA acquired a new position in shares of Palvella Therapeutics during the 2nd quarter worth about $39,150,000. Jennison Associates LLC grew its position in shares of Palvella Therapeutics by 65.3% during the 1st quarter. Jennison Associates LLC now owns 640,611 shares of the company's stock worth $79,852,000 after buying an additional 253,128 shares during the period. Finally, Siren L.L.C. grew its position in shares of Palvella Therapeutics by 243.3% during the 1st quarter. Siren L.L.C. now owns 257,485 shares of the company's stock worth $32,096,000 after buying an additional 182,485 shares during the period. 40.11% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Palvella Therapeutics news, COO Kathleen Goin sold 4,313 shares of the firm's stock in a transaction that occurred on Wednesday, October 21st. The shares were sold at an average price of $124.58, for a total transaction of $537,313.54. Following the sale, the chief operating officer directly owned 2,165 shares in the company, valued at approximately $269,715.70. This trade represents a 66.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey S. Martini sold 6,250 shares of Palvella Therapeutics stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $166.98, for a total transaction of $1,043,625.00. Following the completion of the transaction, the insider directly owned 4,266 shares in the company, valued at approximately $712,336.68. The trade was a 59.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 67,306 shares of company stock valued at $9,800,571 over the last 90 days. 17.20% of the stock is owned by company insiders.

Palvella Therapeutics Stock Performance

NASDAQ:PVLA traded down $0.70 on Friday, reaching $152.48. The company's stock had a trading volume of 240,297 shares, compared to its average volume of 281,191. Palvella Therapeutics, Inc. has a 1-year low of $72.22 and a 1-year high of $179.95. The firm has a market cap of $2.23 billion, a PE ratio of -27.72 and a beta of -0.21. The business's 50-day moving average price is $143.56 and its two-hundred day moving average price is $129.97.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The company reported ($1.70) EPS for the quarter, topping analysts' consensus estimates of ($1.78) by $0.08. As a group, sell-side analysts expect that Palvella Therapeutics, Inc. will post -6.29 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PVLA. William Blair assumed coverage on shares of Palvella Therapeutics in a research report on Friday, October 16th. They issued an "outperform" rating on the stock. Oppenheimer boosted their price objective on shares of Palvella Therapeutics from $210.00 to $232.00 and gave the company an "outperform" rating in a report on Friday, November 6th. Chardan Capital restated a "buy" rating and set a $240.00 price objective on shares of Palvella Therapeutics in a report on Wednesday, October 28th. HC Wainwright began coverage on shares of Palvella Therapeutics in a research note on Friday, November 6th. They issued a "strong-buy" rating for the company. Finally, Raymond James Financial set a $226.00 target price on shares of Palvella Therapeutics in a report on Friday, October 16th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Palvella Therapeutics presently has an average rating of "Buy" and a consensus target price of $213.85.

About Palvella Therapeutics

Palvella Therapeutics is a clinical-stage biopharmaceutical company developing treatments for patients with rare and serious diseases, with a focus on conditions affecting the skin and related tissues. The company is based in Wayne, Pennsylvania. Its pipeline includes QTORIN-based topical drug candidates, which use the company's platform to deliver medicines locally to affected tissue. Programs are being developed for conditions including microcystic lymphatic malformations and cutaneous venous malformations; these candidates are investigational and have not been established as approved treatments.

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