Frazier Life Sciences Management L.P. Acquires New Stake in Palvella Therapeutics (NASDAQ:PVLA)

Frazier Life Sciences Management L.P. bought a new position in shares of Palvella Therapeutics (NASDAQ:PVLA - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 653,892 shares of the company's stock, valued at approximately $7,847,000. Frazier Life Sciences Management L.P. owned 5.83% of Palvella Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the company. Citadel Advisors LLC purchased a new stake in shares of Palvella Therapeutics during the fourth quarter worth approximately $125,000. Toronto Dominion Bank acquired a new position in Palvella Therapeutics in the fourth quarter valued at approximately $159,000. Geode Capital Management LLC acquired a new position in Palvella Therapeutics in the fourth quarter valued at approximately $171,000. Cresset Asset Management LLC acquired a new position in Palvella Therapeutics in the fourth quarter valued at approximately $251,000. Finally, Renaissance Technologies LLC acquired a new position in Palvella Therapeutics in the fourth quarter valued at approximately $256,000. 40.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Palvella Therapeutics

In related news, Director George M. Jenkins acquired 2,500 shares of Palvella Therapeutics stock in a transaction on Wednesday, April 9th. The stock was purchased at an average cost of $20.13 per share, with a total value of $50,325.00. Following the purchase, the director now directly owns 183,171 shares in the company, valued at approximately $3,687,232.23. The trade was a 1.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 20.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PVLA shares. TD Cowen started coverage on Palvella Therapeutics in a report on Wednesday, February 5th. They issued a "buy" rating and a $44.00 price target for the company. Jones Trading began 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. Canaccord Genuity Group decreased their price objective on shares of Palvella Therapeutics from $53.00 to $52.00 and set a "buy" rating for the company in a research note on Friday, May 16th. HC Wainwright reaffirmed a "buy" rating and set a $38.00 price objective on shares of Palvella Therapeutics in a report on Wednesday, April 30th. Finally, Scotiabank initiated coverage on Palvella Therapeutics in a report on Friday, March 7th. They issued a "sector outperform" rating and a $50.00 target price for the company. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Palvella Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $46.29.

Palvella Therapeutics Stock Performance

Shares of Palvella Therapeutics stock traded up $1.61 during trading on Friday, reaching $23.72. The company's stock had a trading volume of 138,230 shares, compared to its average volume of 68,642. The stock has a 50-day moving average price of $24.12. Palvella Therapeutics has a fifty-two week low of $6.20 and a fifty-two week high of $29.27. The company has a market capitalization of $261.94 million, a price-to-earnings ratio of -1.96 and a beta of 0.10.

Palvella Therapeutics (NASDAQ:PVLA - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The company reported ($0.74) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.40) by $2.66. As a group, sell-side analysts anticipate that Palvella Therapeutics will post -3.69 EPS 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.