Citadel Advisors LLC Makes New Investment in Palvella Therapeutics (NASDAQ:PVLA)

Citadel Advisors LLC acquired a new stake in Palvella Therapeutics (NASDAQ:PVLA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,408 shares of the company's stock, valued at approximately $125,000. Citadel Advisors LLC owned 0.09% of Palvella Therapeutics as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PVLA. Geode Capital Management LLC purchased a new position in Palvella Therapeutics during the fourth quarter valued at approximately $171,000. Renaissance Technologies LLC purchased a new stake in Palvella Therapeutics in the 4th quarter worth approximately $256,000. BML Capital Management LLC acquired a new stake in shares of Palvella Therapeutics during the 4th quarter worth approximately $506,000. ADAR1 Capital Management LLC purchased a new position in shares of Palvella Therapeutics during the 4th quarter valued at approximately $1,736,000. Finally, Nantahala Capital Management LLC purchased a new position in shares of Palvella Therapeutics during the 4th quarter valued at approximately $3,001,000. Institutional investors and hedge funds own 40.11% of the company's stock.

Palvella Therapeutics Stock Performance

PVLA opened at $25.40 on Monday. The firm has a market cap of $280.82 million, a P/E ratio of -2.10 and a beta of -0.10. Palvella Therapeutics has a twelve month low of $6.20 and a twelve month high of $29.27. The stock's 50-day moving average is $23.48.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported ($0.74) EPS for the quarter, beating analysts' consensus estimates of ($3.40) by $2.66. As a group, sell-side analysts expect that Palvella Therapeutics will post -3.69 earnings per share for the current year.

Insider Buying and Selling

In other Palvella Therapeutics news, Director George M. Jenkins purchased 2,500 shares of the stock in a transaction that occurred on Wednesday, April 9th. The shares were purchased at an average cost of $20.13 per share, for a total transaction of $50,325.00. Following the completion of the transaction, the director now owns 183,171 shares of the company's stock, valued at $3,687,232.23. The trade was a 1.38% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 20.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PVLA shares. Scotiabank began coverage on shares of Palvella Therapeutics in a report on Friday, March 7th. They set a "sector outperform" rating and a $50.00 price target on the stock. Canaccord Genuity Group lowered their target price on shares of Palvella Therapeutics from $53.00 to $52.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. HC Wainwright restated a "buy" rating and set a $38.00 target price on shares of Palvella Therapeutics in a research report on Wednesday, April 30th. Chardan Capital assumed coverage on Palvella Therapeutics in a research note on Wednesday, April 9th. They issued a "buy" rating and a $50.00 price target for the company. Finally, Jones Trading initiated coverage on Palvella Therapeutics in a report on Tuesday, March 25th. They issued a "buy" rating and a $45.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Palvella Therapeutics currently has an average rating of "Buy" and an average price target of $46.29.

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.

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