Clio Asset Management LLC Purchases New Position in Palvella Therapeutics, Inc. $PVLA

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. Citadel Advisors LLC acquired a new stake in Palvella Therapeutics during the 4th quarter worth approximately $125,000. Spire Wealth Management acquired a new position in shares of Palvella Therapeutics during the first quarter worth $70,000. Woodline Partners LP bought a new stake in shares of Palvella Therapeutics in the first quarter worth $5,435,000. Strid Group LLC bought a new stake in shares of Palvella Therapeutics in the first quarter worth $818,000. Finally, Toronto Dominion Bank acquired a new stake in Palvella Therapeutics in the fourth quarter valued at $159,000. Institutional investors and hedge funds own 40.11% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PVLA shares. Raymond James Financial set a $54.00 price target on Palvella Therapeutics and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Canaccord Genuity Group increased their target price on shares of Palvella Therapeutics from $52.00 to $66.00 and gave the company a "buy" rating in a research report on Tuesday, August 19th. 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. Oppenheimer began coverage on shares of Palvella Therapeutics in a research note on Tuesday, September 9th. They issued an "outperform" rating and a $85.00 price objective on the stock. 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 investment analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $60.91.

Palvella Therapeutics Price Performance

Shares of Palvella Therapeutics stock traded down $0.80 during trading on Friday, reaching $58.24. 326,756 shares of the company traded hands, compared to its average volume of 125,287. The firm has a market capitalization of $644.13 million, a PE ratio of -4.81 and a beta of -0.04. Palvella Therapeutics, Inc. has a 1-year low of $11.17 and a 1-year high of $63.12. The company has a 50 day moving average price of $45.84 and a 200-day moving average price of $31.81.

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

Palvella Therapeutics 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.