91,508 Shares in Palvella Therapeutics, Inc. $PVLA Bought by Clio Asset Management LLC

Key Points

• Clio Asset Management LLC has acquired 91,508 shares of Palvella Therapeutics, Inc. ($PVLA) valued at approximately $2,063,000, making it the firm's 12th biggest holding.
• Several institutional investors, including Goldman Sachs Group Inc. and Strid Group LLC, have also increased their stakes in Palvella Therapeutics, which now has 40.11% of its stock owned by institutional investors.
• Wall Street analysts have generally rated Palvella Therapeutics with a "Buy" or "Outperform" rating, with target prices reaching as high as $85.00.

Clio Asset Management LLC acquired a new position in shares of Palvella Therapeutics, Inc. (NASDAQ:PVLA - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 91,508 shares of the company's stock, valued at approximately $2,063,000. Palvella Therapeutics accounts for 1.6% of Clio Asset Management LLC's investment portfolio, making the stock its 12th biggest position. Clio Asset Management LLC owned about 0.83% of Palvella Therapeutics as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Spire Wealth Management acquired a new stake in shares of Palvella Therapeutics during the 1st quarter valued at approximately $70,000. Citadel Advisors LLC purchased a new stake in shares of Palvella Therapeutics in the 4th quarter valued at approximately $125,000. Toronto Dominion Bank acquired a new position in shares of Palvella Therapeutics during the 4th quarter worth $159,000. Goldman Sachs Group Inc. bought a new stake in Palvella Therapeutics in the 1st quarter valued at $533,000. Finally, Strid Group LLC bought a new stake in Palvella Therapeutics in the 1st quarter valued at $818,000. 40.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PVLA has been the subject of several analyst reports. Lifesci Capital initiated coverage on shares of Palvella Therapeutics in a research report on Monday, August 4th. They set an "outperform" rating and a $90.00 price target for the company. Canaccord Genuity Group increased their price objective on shares of Palvella Therapeutics from $52.00 to $66.00 and gave the stock a "buy" rating in a research note on Tuesday, August 19th. Oppenheimer began coverage on shares of Palvella Therapeutics in a report on Tuesday, September 9th. They issued an "outperform" rating and a $85.00 price objective for the company. Chardan Capital raised their price target on shares of Palvella Therapeutics from $50.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Finally, Truist Financial assumed coverage on shares of Palvella Therapeutics in a research report on Monday, July 21st. They set a "buy" rating and a $56.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company. According to data from MarketBeat, Palvella Therapeutics presently has a consensus rating of "Buy" and an average price target of $60.91.

Palvella Therapeutics Trading Down 0.7%

NASDAQ:PVLA traded down $0.42 during mid-day trading on Tuesday, hitting $58.29. The company had a trading volume of 125,076 shares, compared to its average volume of 101,940. Palvella Therapeutics, Inc. has a 1 year low of $11.17 and a 1 year high of $63.12. The firm has a market capitalization of $644.69 million, a price-to-earnings ratio of -4.82 and a beta of -0.04. The business has a fifty day simple moving average of $46.46 and a 200-day simple moving average of $32.05.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.08). As a group, research analysts anticipate that Palvella Therapeutics, Inc. will post -3.69 earnings per share for the current year.

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.