Bank of New York Mellon Corp Invests $4.67 Million in Palvella Therapeutics, Inc. $PVLA

Bank of New York Mellon Corp purchased a new position in shares of Palvella Therapeutics, Inc. (NASDAQ:PVLA - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 30,587 shares of the company's stock, valued at approximately $4,674,000. Bank of New York Mellon Corp owned 0.21% of Palvella Therapeutics at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. KBC Group NV bought a new stake in Palvella Therapeutics during the 1st quarter valued at $28,000. Group One Trading LLC grew its holdings in 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 acquiring an additional 200 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Palvella Therapeutics during the 3rd quarter worth about $36,000. JPMorgan Chase & Co. increased its position in Palvella Therapeutics by 108,066.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,245 shares of the company's stock valued at $73,000 after purchasing an additional 3,242 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Palvella Therapeutics during the second quarter valued at approximately $85,000. Institutional investors own 40.11% of the company's stock.

Palvella Therapeutics Price Performance

Shares of Palvella Therapeutics stock opened at $157.24 on Friday. The stock has a market cap of $2.27 billion, a PE ratio of -32.55 and a beta of -0.25. The firm has a fifty day moving average price of $148.35 and a 200 day moving average price of $129.46. Palvella Therapeutics, Inc. has a 1 year low of $52.36 and a 1 year high of $161.38.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on PVLA. Weiss Ratings reissued 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 target on shares of Palvella Therapeutics in a report on Wednesday, August 5th. Stephens reaffirmed an "overweight" rating and issued a $220.00 price objective on shares of Palvella Therapeutics in a research report on Thursday, May 21st. Truist Financial set a $207.00 price target on Palvella Therapeutics in a research report on Wednesday, August 5th. Finally, HC Wainwright reiterated a "buy" rating and issued a $270.00 price target on shares of Palvella Therapeutics in a research note on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $209.14.

Insider Buying and Selling

In other news, Director Christopher P. Kiritsy sold 313 shares of the company's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $157.00, for a total value of $49,141.00. Following the completion of the sale, the director directly owned 250 shares in the company, valued at $39,250. This represents a 55.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Kathleen Goin sold 4,302 shares of the business's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $152.21, for a total transaction of $654,807.42. Following the transaction, the chief operating officer directly owned 2,154 shares in the company, valued at approximately $327,860.34. The trade was a 66.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 8,917 shares of company stock worth $1,180,309 over the last three months. Corporate insiders own 17.20% of the company's stock.

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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