Clio Asset Management LLC Buys Shares of 91,508 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 bought a new stake in Palvella Therapeutics, Inc. (NASDAQ:PVLA - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 91,508 shares of the company's stock, valued at approximately $2,063,000. Palvella Therapeutics accounts for about 1.6% of Clio Asset Management LLC's portfolio, making the stock its 12th biggest position. Clio Asset Management LLC owned about 0.83% of Palvella Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Spire Wealth Management purchased a new stake in shares of Palvella Therapeutics in the first quarter valued at $70,000. Citadel Advisors LLC purchased a new stake in shares of Palvella Therapeutics in the fourth quarter valued at $125,000. Toronto Dominion Bank purchased a new stake in shares of Palvella Therapeutics in the fourth quarter valued at $159,000. Goldman Sachs Group Inc. purchased a new stake in shares of Palvella Therapeutics in the first quarter valued at $533,000. Finally, Strid Group LLC purchased a new stake in shares of Palvella Therapeutics in the first quarter valued at $818,000. Hedge funds and other institutional investors own 40.11% of the company's stock.

Palvella Therapeutics Price Performance

NASDAQ PVLA traded up $0.47 during trading on Monday, reaching $58.71. 173,504 shares of the company's stock traded hands, compared to its average volume of 101,723. The firm has a market cap of $649.33 million, a price-to-earnings ratio of -4.85 and a beta of -0.04. The company's 50 day simple moving average is $45.84 and its two-hundred day simple moving average is $31.81. Palvella Therapeutics, Inc. has a 12-month low of $11.17 and a 12-month high of $63.12.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Raymond James Financial set a $54.00 target price on shares of Palvella Therapeutics and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Canaccord Genuity Group raised their price target 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. Lifesci Capital initiated coverage on shares of Palvella Therapeutics in a research report on Monday, August 4th. They issued an "outperform" rating and a $90.00 price objective for the company. Truist Financial initiated coverage on shares of Palvella Therapeutics in a research report on Monday, July 21st. They set a "buy" rating and a $56.00 target price on the stock. Finally, Chardan Capital lifted their price target on shares of Palvella Therapeutics from $50.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $60.91.

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.