Bank of America Corp DE Has $4.73 Million Holdings in Palvella Therapeutics, Inc. $PVLA

Key Points

• Bank of America increased its Palvella Therapeutics stake by 25.4% in the first quarter to 37,972 shares valued at approximately $4.73 million. Institutional investors and hedge funds collectively own 40.11% of PVLA.
• Analysts maintain a broadly bullish view, with an average “Buy” rating and a $209.14 price target. Recent targets range from $207 to $270, while Stephens and HC Wainwright reiterated positive ratings.
• PVLA shares opened at $149.97, near their 52-week high of $161.38, but the company reported a quarterly loss of $1.52 per share, missing the consensus estimate of a $1.17 loss. Separately, COO Kathleen Goin sold $654,807 worth of shares under a Rule 10b5-1 plan.

Bank of America Corp DE grew its stake in shares of Palvella Therapeutics, Inc. (NASDAQ:PVLA - Free Report) by 25.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 37,972 shares of the company's stock after buying an additional 7,700 shares during the quarter. Bank of America Corp DE owned approximately 0.26% of Palvella Therapeutics worth $4,733,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PVLA. The Manufacturers Life Insurance Company increased its stake in Palvella Therapeutics by 688.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 17,907 shares of the company's stock worth $2,232,000 after buying an additional 15,637 shares during the period. Jennison Associates LLC increased its holdings in shares of Palvella Therapeutics by 262.4% in the 4th quarter. Jennison Associates LLC now owns 387,483 shares of the company's stock valued at $40,558,000 after acquiring an additional 280,573 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Palvella Therapeutics during the 1st quarter worth about $13,190,000. WCM Investment Management LLC purchased a new stake in Palvella Therapeutics during the first quarter worth approximately $4,982,000. Finally, Fifth Third Bancorp purchased a new stake in Palvella Therapeutics during the first quarter worth approximately $2,486,000. Institutional investors and hedge funds own 40.11% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on PVLA shares. Stephens reissued an "overweight" rating and issued a $220.00 target price on shares of Palvella Therapeutics in a report on Thursday, May 21st. HC Wainwright reissued a "buy" rating and issued a $270.00 target price on shares of Palvella Therapeutics in a report on Wednesday, July 22nd. Canaccord Genuity Group set a $232.00 price target on shares of Palvella Therapeutics in a research note on Wednesday, August 5th. Chardan Capital raised shares of Palvella Therapeutics to a "strong-buy" rating in a report on Tuesday, July 28th. Finally, Truist Financial set a $207.00 price objective on shares of Palvella Therapeutics in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $209.14.

Palvella Therapeutics Price Performance

Shares of NASDAQ PVLA opened at $149.97 on Friday. The business has a 50-day moving average of $146.01 and a 200-day moving average of $126.90. Palvella Therapeutics, Inc. has a 1-year low of $49.81 and a 1-year high of $161.38. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of -31.05 and a beta of -0.17.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($1.52) earnings per share for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.35). Research analysts expect that Palvella Therapeutics, Inc. will post -6.36 EPS for the current fiscal year.

Insider Transactions at Palvella Therapeutics

In related news, COO Kathleen Goin sold 4,302 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $152.21, for a total value of $654,807.42. Following the sale, the chief operating officer directly owned 2,154 shares in the company, valued at $327,860.34. This trade represents a 66.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.20% of the stock is owned by company insiders.

About Palvella Therapeutics

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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